Xi assures China will continue to open to the world

Chinese President Xi Jinping has assured that China will continue to open to the world despite Beijing doubling down on its strict border controls to control the pandemic. Xi's remarks come as many foreign businesses have found their operations halted due to a lingering Covid-19 lockdown in financial hub Shanghai. The American Chamber of Commerce has warned that it was bracing for an “exodus” of foreign talent due to unrelenting restrictions. The German Chamber of Commerce also found that only a small number of firms could resume production, while foreign staff are increasingly planning to leave over China's pandemic strategy. The European Union Chamber of Commerce also said that containment measures across cities had caused massive disruptions. Xi is calling for a “balance” between pandemic response and economic development, as well as stronger macroeconomic policy coordination across countries.