CHINA-ECONOMY: AMCHAM SURVEY OF MAY 2022 FINDS COMPANIES OPERATING IN SHANGHAI HAVE BEEN HARDEST HIT BY COVID
The American Chamber of Commerce conducted a 'Flash Survey' in May 2022 to gauge the
mood of businesses in China. Their findings revealed that "companies with operations in
Shanghai have been among the hardest hit, with more than 15% of respondents reporting their
company’s operations in the eastern port city remain fully shut in the wake of the March
COVID-19 outbreak. But the impact is also widespread elsewhere: 59% of respondents report
slowed or reduced production capabilities due to a lack of employees, an inability to get
supplies, or government-ordered lockdowns". It said that "US companies reported a dire
economic picture in China, following COVID-19 outbreaks that have spread across the country
in recent weeks". The report added that "the foreign business community’s confidence in doing
business in China continues to decrease, with all 121 company respondents to the survey saying
they had been negatively impacted by China’s policies concerning the recent outbreak, citing
a range of factors".
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