European business confidence in China is at an all-time low, report says

A European business group says China must reprioritize economic growth and reforms and boost investor confidence by leveling the playing field for all companies in the country. The annual European Business in China Position Paper published Wednesday by the European Chamber of Commerce in China says many European businesses are deciding that the returns on China investments are not worth the risks. It says business confidence is at an all-time low due to issues including an economic slowdown and a politicized business environment. The report called on China to allow a more free market to determine resource allocation, and to introduce policies aimed at boosting domestic demand.