75% of companies have expressed optimism regarding the Chinese economy for the coming year
The American Chamber of Commerce in South China released a report on the extent of difficulties created by the epidemic, after conducting a survey on companies from the United States and other APEC member economies. According to the survey, “75 % of respondent companies in a survey said they are confident in the prospects for the Chinese economy and will not change their reinvestment plans”. Moreover “97% of the rinterviewd managers said that their officises, bramches and HQ have a good handle on the impact of COVID-19 on their business in China and are ready to provide any assistance needed”.
The primary difficulties reported by these companies were lack of availability of protective masks, sanitizers and other sanitary products, as well as other difficulties in restarting operations. Finally, almost all of of respondent companies believe that “China can provide accurate epidemic information to help their headquarters understand their situation in China”.
While a majority of companies believe their revenues in 2020 will be impacted by the outbreak, “many are working overtime to make up for production that has been delayed by the extended holiday and the fewer number of employees who have reported for work,” said Harley Seyedin, president of the Chamber. Concerning American Chamber of Commerce, Guangdong provincial department of commerce in coordination with the Chamber has opened a hotline specifically for dealing with difficulties in companies resuming production.