More than half of Canadian companies operating in China have changed, postponed or cancelled their business plans in the wake of the arrest of Huawei executive Meng Wanzhou in Vancouver six months ago, according to a report into business sentiment by The Canada China Business Council, Canada’s de facto chamber of commerce in Beijing, said the South China Morning Post.
The Canada China Business Council did not name Meng, or telecommunications giant Huawei, but found both Canadian and Chinese companies surveyed were facing challenges “stemming from recent bilateral political and legal tensions” in the period from December 1, 2018 – the date of Meng’s arrest – to March 1, 2019.
The survey, conducted every two years, covered 226 Canadian companies and 28 Chinese firms operating in each other’s markets and found that, while the negative impact had been two-way, Chinese companies had suffered less.
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