Twin surveys by foreign business groups reveal the impact of China’s virus outbreak on British and American companies operating in the country, which complain of revenue losses, disrupted staffing and added compliance costs, reported Caixin.
More than half of 126 British companies surveyed by the Beijing-based British Chamber of Commerce in China said the outbreak had a significant negative impact on their business, while almost all had been adversely affected in some way.
More than a quarter could not predict when they would return to business as usual, while 23% expected normal operations to resume by the end of the month and 31% by the end of March.
A survey by the AmCham Shanghai released on Friday found 87% of 127 US companies operating in China expected their 2020 revenues to suffer as a result of the outbreak, with almost a quarter expecting them to drop 16% or more. About 10% expected to relocate jobs out of China.