Business

Sentiment in European companies is down

Production of Volkswagen, Bosch and Siemens Healthineers in China (from left)

In a survey, 60 percent of European companies represented in China said their business in the People’s Republic had become more difficult

(Photo: Reuters, Volkswagen, laif)

Beijing, Dusseldorf, Munich The sentiment of European companies in China is at a low point. In a new EU Chamber of Commerce survey, 60 percent of companies said their business in the People’s Republic had gotten tougher, the worst value ever. 23% are considering moving their current or planned investments to other parts of the world, the highest level in over a decade.

The reason for the bad mood is the continuous draconian blockades due to the Chinese government’s zero-Covid strategy. Added to this is the war in Ukraine, which also changes the assessment of the risk for China, which positions itself on the side of Russia. The war and its aftermath made companies once again aware of their dangerous dependence on the People’s Republic.

“Some companies are considering investing in other markets that offer greater predictability,” says Bettina Schön-Behanzin, vice president of the European Chamber of Commerce in China.

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