Name: European Firms Losing Confidence in China: Report
Uploaded: 2023-02-22T05:49:07.000Z
Description: China's harsh COVID-19 curbs have dimmed the outlook for the world's second-largest economy. Even though officials repealed the strict rules earlier this year.

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China's harsh COVID-19 curbs have dimmed the outlook for the world's second-largest economy. Even though officials repealed the strict rules earlier this year.

That's the latest forecast by the European Chamber of Commerce in China. The non-profit represents EU companies in China.

In its 2023 and 2024 Shanghai Position Paper, the Chamber notes that more than 90 percent of European companies have reported severe losses from supply chain disruptions.

The report cites the city-wide lockdown in Shanghai last year, with "shuttered factories, a collapse in consumer spending, and disrupted operations."

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