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Politics

China signals support for foreign investment after virus curb fury

Multinationals threaten to cut investment or leave over zero-COVID rules

German chemical group BASF opened a new plant in Zhanjiang city to boost capacity by an additional 60,000 metric tons of engineering plastics compounds annually. (Photo courtesy of BASF)

HONG KONG -- A senior Chinese official's surprise move to officiate at a BASF factory opening is telegraphing Beijing's support for foreign investment, as multinationals threaten to quit the country over strict virus curbs, analysts say.

Vice Premier Han Zheng, a top Communist Party member responsible for economic affairs, took part in an event by teleconference this month to mark the start of production at the German company's new chemical complex in southern Guangdong province.

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