Businesses must navigate geopolitical, global regulatory uncertainties

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Photo: Song Lin/GT

Amid rising challenges and risks posed by the COVID-19 pandemic, geopolitical tensions and US policies, China will continue to deepen reforms and open up its economy, while bolstering the domestic market to maintain sustainable growth and support global multilateralism, Chinese officials and economists said on Sunday.

Speaking at the 2022 Tsinghua PBCSF Global Finance Forum on Sunday, Xuan Changneng, deputy head of the State Administration of Foreign Exchange (SAFE), said that amid the intensifying global geopolitical situation, the sanctions launched by certain countries have had a new impact on the global economic and financial systems.

The sanctions are aggravating the adverse combination of high inflation, tight supply chains and food shortages around the world, said Xuan.

Against emerging signs of anti-globalization in recent years, some countries started to weaponize the economic and financial interdependence among economies to…

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