Nearly a third of companies operating in China have seen their revenues slashed as the coronavirus outbreak disrupts activity, a survey by the American Chamber of Commerce (AmCham) in China showed on Thursday, reported Reuters.
Travel restrictions and stringent quarantine rules implemented since January to minimize contagion risks in China, where the virus has infected nearly 80,000 people and killed over 2,700, have effectively paralyzed business activity.
While the Chinese government has recently reversed some of the curbs outside Hubei province, the virus’s epicenter, to support the economy, nearly a third of the companies said they only expect business operations to return to normal by end-March. Some 12% believe delays will persist through the summer.
Most of the 169 companies surveyed said it was too soon to count the costs of the disruption, but about 10% said they are reporting at least RMB 500,000 ($71,298) of losses a day.
You must log in to post a comment.