He said his company had “suddenly abandoned” a short video promotional project in the Philippines following the kidnapping and murder of a Chinese and a Chinese-American on June 24.
According to financial news outlet Yicai Global, one of the victims was the international marketing director for Hong Kong-listed Rainmed Medical Limited, while the other worked as a distributor for a cardiovascular medical device company. Both had visited the Philippines on business just days before the murders.
02:37
Philippine Navy admiral at the center of “New Deal” furor breaks silence on alleged South China Sea deal
Philippine Navy admiral at the center of “New Deal” furor breaks silence on alleged South China Sea deal
“The average Chinese person may have a conflicted view of things,” said Aaron Ravena, a lecturer at the University of the Philippines Asia Center. “This points to weak law enforcement that could allow things to get out of control.”
The incident comes amid a maritime dispute between China and the Philippines, which has seen several standoffs this year, raising concerns about a possible escalation of the conflict in the South China Sea, one of the world's busiest shipping lanes.
At the same time, China accounted for 23.3 percent of the Philippines' imports and received 14.8 percent of its exports last year, according to the Philippine Statistics Authority. In the first four months of 2024, two-way trade volume reached US$22.46 billion.
Philippine and Chinese leaders agreed in January to cooperate, particularly in infrastructure, agriculture and energy. Direct investment from China reached 1.53 billion pesos ($26 million) in the first five months of this year, according to the Manila-based Department of Trade and Industry's Board of Investments.
The murder “has really increased everyone's anxiety about the Philippine market and even the Southeast Asian market,” said James Liu, a sales manager for a new energy company who will be heading to the Philippines later this year to research the local market.
He and his family worry he may not be able to escape his posting in the Philippines.
“It feels like every overseas marketer is talking about this issue,” Liu said. “Geopolitical relations between China and the Philippines have become increasingly tense in recent months, making it difficult for private companies to come up with an appropriate response plan.”
Chinese Ambassador Huang Xilian met with Filipino Presidential Task Force on Organized Crime chairman Lucas Bersamin in Manila on Monday to review ways to jointly fight transnational crime, Philippine presidential spokesman Sgt.
The statement said “enhanced cooperation” would send a message to criminal organisations “that they cannot undermine the security and stability of these countries”.
Citing another concern among Filipinos, the president of the Philippine Federation of Chinese Chambers of Commerce and Industry told the China-based Global Times that tensions between the two countries “could unnecessarily escalate into a crisis that could destabilize the economic development trajectory of the Philippines, China and the entire Asian region.”
However, some companies are taking a more proactive approach in the business environment.
Jonathan Labellas, managing director of Manila-based consulting and business marketing services firm EManagement, said Chinese businessmen would hear “a lot of noise” but the killings probably wouldn't be part of a trend affecting ordinary investors and traders.
He expects Chinese businessmen will eventually take notice of the Philippines' untapped investment potential.
“We need to look ahead and focus on the low hanging fruit,” LaBellas said.
