A top business group warns China’s zero-COVID policy has made European companies weigh a shift of investment out of China.
The strict COVID lockdown and supply chain disruptions have rattled business confidence, according to a survey by the European Chamber of Commerce in China published on May 5.
“Our members are weathering the storm for now, but if the current situation continues, they will increasingly evaluate alternatives to China,” said Jorg Wuttke, the chamber’s president.
“A more expensive, functioning market is better than one that is relatively cheaper but paralysed,” Wuttke said.
Some 92 percent of businesses responded to the survey saying they had been impacted by recent port closures, a decline in road freight, and rising sea freight costs.
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