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Nearly One in Four European Firms Consider Shifting Out of China

  • 23% figure is highest proportion in a decade: European chamber
  • ASEAN, Europe among most considered alternatives, survey shows
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WATCH: Bettina Schoen-Behanzin of the EU Chamber of Commerce in China explains why nearly one in four European companies in China are considering shifting their investments out of the country. Source: Bloomberg
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Nearly one in four European companies in China are considering shifting their investments out of the country as the ongoing Covid outbreaks and lockdowns dim the outlook for the world’s second-largest economy, a survey showed. 

Some 23% of the businesses that responded to the survey are thinking of moving their current or planned investments away from China, according report released Monday by the European Union Chamber of Commerce in China. The survey was conducted at the end of April, when Shanghai was still in shutdown and restrictions in places like Jilin disrupted business activity.