News about China affecting business decisions kept coming in the past months. Additionally, China just concluded its twice a decade parliamentary sessions where both the new Foreign Minister (Qin Gang) and the President directed very strong words at the USA. We thought of providing you a short update and some initial insights.
China grew 8.1% in 2021 after a 2.2% growth in 2020. At the same time, during that first pandemic year, the rest of the world economy shrank by about 4.1%. China’s development during the pandemic has generated continued considerable business interest, so much so that foreign direct investment reached an all-time high of USD 179 billion in 2021 despite extraordinary restrictions on international travel into China.
China grew 8.1% in 2021 after a 2.2% growth in 2020. At the same time, during that first pandemic year, the rest of the world economy shrank by about 4.1%. China’s development during the pandemic has generated continued considerable business interest, so much so that foreign direct investment reached an all-time high of USD 179 billion in 2021 despite extraordinary restrictions on international travel into China.
While tourism experiences a difficult year in China because of Beijing’s zero-Covid policy and mobility restrictions, the Swiss Centers experts see a lot of reason for long-term optimism for Swiss consumer goods.
Since it started its international opening, China faces its ever recession. No growth target has been announced for 2020 also for the first time. Priority has been set instead on generating enough jobs.
