AMCHAM China: Most U.S. firms have no plans to leave China due to coronavirus
The majority of American companies in China have no plans to relocate production or sourcing activities to other parts of the country or abroad due to the coronavirus, a survey showed on Friday.
Almost 70% of respondents to the joint survey by the American chambers of commerce in Beijing and Shanghai as well as PricewaterhouseCoopers said they expected their China supply chain operations to return to normal in less than three months and 96% forecast a return to normal within three to six months.
“In contrast to some global narratives, our China-based data suggests that the majority of our members will not be packing up and leaving China anytime soon,” said Alan Beebe, president of the Beijing-based American Chamber of Commerce in China.
“It is worth emphasising that China appears ahead of the global curve when it comes to restarting the economy following months of lockdown,” he said.
China has taken steps since February to restart its economy by recalling workers to factories and easing travel restrictions. On April 8, it eased a 76-day lockdown in Wuhan that cut the major industrial hub off from the rest of the country, after the number of new local infections plunged.
The survey, which also involved Shanghai’s American Chamber of Commerce, was taken between March 6-13 and received responses from 25 companies. It targeted senior executives from firms that had global revenue of over $500 million and were involved in sectors from healthcare to consumer, it said.
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