In a survey, 60 percent of the European companies represented in China stated that their business in the People’s Republic had become more difficult
(Photo: Reuters, Volkswagen, laif)
Beijing, Dusseldorf, Munich Sentiment from European companies in China is at a low point. In a new survey by the EU Chamber of Commerce, 60 percent of companies stated that their business in the People’s Republic had become more difficult – the worst figure ever. 23 percent are considering moving their current or planned investments to other parts of the world – the highest level in more than a decade.
The reason for the bad mood is the constant draconian lockdowns due to the Chinese government’s zero-Covid strategy. In addition, there is the Ukraine war, which also changes the risk assessment for Russia’s ally China – and once again makes companies aware of their dangerous dependence on the People’s Republic.
“Some companies are considering investing in other markets that offer more predictability,” says Bettina Schön-Behanzin, vice-president of the European Chamber of Commerce in China.
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