Chinese-Filipino business leaders warn sanctions on ambassador could hurt economy

At the ASEAN-Chinese Business Leaders’ Summit, Victor Lim expressed deep concern that worsening Manila-Beijing ties could jeopardise Chinese-Filipino investments. He argued that imposing sanctions on Ambassador Jing Quan would likely provoke counter-sanctions, further destabilising an economy already burdened by sluggish consumer demand and rising operational costs. The Philippines imports over $38.22 billion of goods from China and exports about $9.3 billion to the country, making the trade relationship critical.

Lim warned that prolonged tension might deter new Chinese investment and shrink existing projects. He urged both governments to pursue dialogue rather than punitive actions to preserve economic stability.