‘Tsinoy’ businessmen warn vs China sanctions
Chinese-Filipino businessmen fear that escalating tensions with Beijing could jeopardize their investments and livelihoods, warning that imposing sanctions against Chinese Ambassador Jing Quan could trigger retaliation and deal a further blow to an already struggling economy.
Victor Lim, president of the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII), said the business community was increasingly concerned about its prospects amid worsening diplomatic ties between Manila and Beijing.
“Of course, we are very concerned about our future. We don’t want a war,” Lim told reporters on the sidelines of the Asean-Chinese Business Leaders’ Summit on Monday.
While acknowledging that Jing could have been more careful with his words, Lim said punitive action could provoke reciprocal measures that would hurt Philippine businesses.
“I think this is not a proper time to sanction the ambassador,” he said.
“It’s not good because they will also sanction us,” Lim added. “Our economy will be in a very bad shape. Because we need a lot of imports from China. And we need our exports to China also.”
The Senate is considering a resolution condemning Jing’s remarks, in which he said China could “easily win” a military confrontation with the Philippines but preferred a peaceful resolution.
Lim urged both governments to exercise restraint and settle their differences through dialogue rather than escalate the diplomatic dispute.
China remains the Philippines’ largest source of imports, supplying more than $38.22 billion worth of goods in 2025. It was also the country’s fourth-largest export market, buying $9.3 billion worth of Philippine products during the year.
Trade at risk
Lim said Chinese-Filipino businesses were already struggling with weak consumer spending and rising operational costs, making them more vulnerable to further economic disruption.
“Even our group is complaining about bad business now,” he said, attributing sluggish spending partly to high oil prices that leave consumers with less money for other goods.
“People don’t have money to spend… because the oil price is too high. People are spending on gasoline and diesel, and later on, they don’t have money anymore to spend on other commodities,” he added.
Lim expressed concern that prolonged tensions could further discourage Chinese investors from entering the country or expanding existing operations.
“If there’s a tension, who will invest in our country?” he asked. “Our investments are down because they are afraid that the tension might happen.”
He said a stronger economy and stable investment climate would encourage Chinese businesses to remain in the Philippines.
“If business is good, I think they (Chinese investors) can stay here,” he added.
Lim urged the government to weigh the economic risks of sanctioning the ambassador, stressing the need to preserve trade ties while pursuing a diplomatic resolution to the dispute.
