The press conference on Amcham South China’s releasing three special reports. (provided to Newsgd.com)
Since the world is suffering from the pandemic of COVID-19, foreign companies still see China a great place of many business opportunities and won’t change their reinvestment plans here, according to latest reports released by the American Chamber of Commerce in South China (AmCham South China) recently.
On March 18th AmCham South China released the results of its latest three studies, the Special Report on the Impact of COVID-19 Outbreak on the Supply Chain, the 2020 White Paper on the Business Environment in China, and the 2020 Special Report on the State of Business in South China.
According to the Special Report on the Impact of COVID-19 Outbreak on the Supply Chain, 32% of the companies in the study are facing shortages with 15% of those already out of some components, supplies or material.
Companies report shortage problems caused by logistics and delivery issues in China are being resolved quite rapidly. However, they believe shortage of supplies from US, Europe and APEC (other than mainland China) will continue to worsen. According to the study, 89% of those impacted believe problems will last between one to three months while 11% predict six months or longer.
Press conference on Amcham South China’s releasing three special reports. (provided to Newsgd.com)
The 2020 White Paper and the 2020 Special Report on the State of Business in South China indicated that Willingness to reinvest in China is expected to remain strong in the next three years. 68% of companies plan to reinvest in 2020.
The reports also show that Guangzhou has once again been rated as the top spot of reinvestment destination in China handily beating Beijing, Shanghai, Shenzhen and Dongguan. Most of the studied companies were optimistic about the development of the Guangdong-Hong Kong-Macao Greater Bay Area.
‘It will require a coordinated international series of actions to minimize the impact of disruption in the supply chain. Today’s events prove we need each other as no one country can do it alone” said Harley Seyedin, President of the AmCham South China.
All documents may be downloaded free of charge from the Chamber’s website at:
www.amchamsouthchina.org/amcham/static/publications/publications.jsp.
Reported by Nan
Edited by Olivia
