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Translated by: MOS Education Team — Jack H
It is reported that Communist China’s strict Covid blockade policy has led to increasingly apparent negative effects. A recent survey by the European Union Chamber of Commerce in China showed 90% of European commercial enterprises in China have suffered from lockdown of cities in various places, 3/4 said their overall operations were affected, 60% lowered their revenue expectations for this year, and nearly 1/4 considered to withdraw investment, which was the highest in a decade.
In late April, the European Union Chamber of Commerce in China surveyed more than 370 members about the impact of China’s anti-Covid policy and the Russian-Ukrainian war on European companies in China. It showed strict Covid prevention measures imposed in dozens of cities, including Shanghai, had caused “extremely large-scale chaos.”
23% of surveyed members revealed they are considering diverting current or planned investments from China to other markets at present to seek a more predictable business environment. This statistical number was twice as two months before and hit a ten-year high.
78% of surveyed companies believed the attractiveness of the Chinese market as an investment destination has declined over the strict Covid prevention policy. Meanwhile, 1/3 of them pointed out that the Russian-Ukrainian war was a factor too.
Reference link: https://gnews.org/post/p2485952/
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