BEIJING :A record number of British companies are pessimistic about doing business in China and are taking a"wait and see approach", according to a survey by the British Chamber of Commerce in China.
"British companies are willing and want to invest in China...there is, however, some uncertainty around that and that's where the survey results we have give us a little cause for concern," Julian MacCormac, chair of the British Chamber, told reporters in Beijing. Trade between the UK and China was worth 111 billion pounds last year, according to the British National Bureau of Statistics, making China the UK's fourth largest trading partner.
"When something happens that isn't necessarily explained, and where businesses are not consulted and it's not clear where the boundaries are in terms of how a company operates, it creates uncertainty," MacCormac said, in response to a question on recent raids by Chinese authorities of foreign due diligence firms.