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In the News: EU Chamber Survey; Shanghai Bitcoin Ruling; and SEC Didi Investigation
May 08, 2022 | BY
Vincent ChowEuropean companies considering leaving China market over strict COVID-19 policies; Shanghai court ruling deems bitcoin a virtual asset protected by law; Didi New York IPO under SEC investigation
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Credit: askarim/Shutterstock.com
European Companies Sound Alarm on China's COVID-19 Policy
Some European companies are considering leaving the China market due to China's COVID-19 policy. On May 5, the European Chamber of Commerce in China released a survey showing that almost a quarter of respondents are thinking about moving their investments elsewhere, more than double the number that were considering doing so at the beginning of 2022.
Citing the "massive uncertainty" caused by stringent pandemic control measures introduced across the country in recent months, the report finds that three-quarters of the 372 European companies that