China is rolling out the red carpet to attract foreign executives
BEIJING — China is pulling out all the stops to keep multinationals like Apple and its supplier Foxconn in the country. Such efforts to attract foreign investment come as the pandemic and geopolitical tensions push companies to diversify their supply chains away from China.
For the first time in 25 years, the American Chamber of Commerce in China found that less than half the respondents to its annual survey ranked China as a top three investment priority.
The number of companies which are considering or starting to relocate their manufacturing and sourcing outside of China rose by 10 percentage points from a year ago, the survey found.
The majority of respondents don't plan to relocate their supply chains, the AmCham report said. The survey was conducted last fall, and results hadn't changed significantly since China ended its stringent Covid controls, AmCham said.
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