However, the declaration has largely failed to prevent a dwindling of confidence – be it among the foreign business community, private entrepreneurs or domestic consumers.
Across China, a large cross-section of foreign businesses is struggling to cope amid what has been a gulf between their tepid business performances and Beijing’s rose-tinted account of the economy.
‘Recovery is still shaky’ as China looks to get economy on solid footing in 2024
Instead, challenges pertaining to national security, data flows and continued market barriers dominate hearts and minds, fuelling doubts about increasing investments in China, as well as contemplations about exploring overseas opportunities.
“The economic slowdown continues to be a major concern for our member companies,” Eric Zheng, the president of the American Chamber of Commerce in Shanghai, said on Tuesday after the 5.2 per cent…
