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More Than Half U.S. Firms in China See Lockdowns Hitting Revenue

  • AmCham survey shows companies plan to reduce investment
  • Covid restrictions lead to loss of foreign staff at U.S. firms
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China Lockdowns Hitting Revenue of U.S. Businesses
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China’s stringent Covid Zero strategy has damaged foreign businesses’ confidence, with U.S. firms in the country slashing investments and lowering revenue projections as lockdowns hit operations and supply chains.

More than half of the 121 companies polled by the American Chamber of Commerce in China have either reduced or delayed investment in the country, while nearly 60% of them lowered their income forecasts for this year following the latest outbreaks, according to a statement.