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2023-02-14 | Shanghai

European Chamber Urges Shanghai to Act to Restore Business Confidence

The European Union Chamber of Commerce in China (European Chamber) today published its Shanghai Position Paper 2023/2024. The report outlines how Shanghai can restore its reputation as an internationally competitive city, after three years of stringent pandemic control measures rocked business confidence.

Now China has abandoned its zero-COVID policy, all eyes are on Shanghai—as China’s most international city and one of the cities hardest hit by COVID-related restrictions—for an indication of what China’s economic recovery efforts will look like. 

This fifth edition of the Shanghai Position Paper puts forward 37 constructive recommendations on how Shanghai can create a reliable business environment and advance towards its goals of becoming a regional headquarters economy and world-leading innovation hub. These include measures to make the city more attractive to foreign talent; address ongoing market access barriers; promote government-industry dialogue; fully leverage innovation resources; and strengthen regional integration. 

“Shanghai has a window of opportunity to rebuild the trust eroded over the past three years, particularly following the city’s spring 2022 lockdown,” said Bettina Schön-Behanzin, vice-president of the European Chamber and chair of its Shanghai Chapter. “This will not happen overnight,but must be predicated on the Shanghai Government taking tangible steps to build a business environment that is transparent and predictable.”

Download the report here.

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Xinhe Fan