{"id":3082781,"date":"2024-01-24T10:14:22","date_gmt":"2024-01-24T15:14:22","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/number-of-german-firms-leaving-or-considering-leaving-china-doubles-survey-shows\/"},"modified":"2024-01-24T10:14:22","modified_gmt":"2024-01-24T15:14:22","slug":"number-of-german-firms-leaving-or-considering-leaving-china-doubles-survey-shows","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/number-of-german-firms-leaving-or-considering-leaving-china-doubles-survey-shows\/","title":{"rendered":"Number of German Firms Leaving or Considering Leaving China Doubles, Survey Shows"},"content":{"rendered":"
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The proportion of German companies<\/a> that have either left China or are planning to leave China has more than doubled to 9% over the last four years, based on a survey from the German Chamber of Commerce in China.<\/p>\n

According to Reuters, 2% of the companies with operations in China surveyed said that they were selling off their business operations there, while another 7% said they were considering a sell-off. In 2020, just 4% of German firms were exiting or were planning to exit China. The survey also showed that 44% of German firms have taken steps to address risks linked to maintaining operations in China.<\/p>\n

\u201cLast year was a reality check for German companies operating in China,\u201d said Ulf Reinhardt, chairman of the German Chamber of Commerce South and South West China.<\/p>\n

German firms in general have a gloomy view of the short-term prospects for the world’s second-largest economy, indicated by 86% of those surveyed saying the Chinese economy is on a downward trajectory. However, most of the respondents said that they believed this trend would only be temporary, predicting an economic bounce-back over the next one to three years.<\/p>\n

A majority of German firms, however, are not dissuaded by geopolitical tensions or economic trouble in China. Fifty-four percent of survey participants said they are planning to increase their investments in order to remain competitive in the region.<\/p>\n

A total of 556 German firms were surveyed between September 5, 2023, and October 6, 2023, for the German Chamber of Commerce report.<\/p>\n