Coronavirus, Wuhan, Trade, Business Sentiment

Coronavirus, Wuhan

Coronavirus: Foreign firms struggle to resume operations in China

Coronavirus: Foreign firms struggle to resume operations in China

18.2.2020

Coronavirus : Foreign firms struggle to resume operations in China

BEIJING (AFP) - Foreign firms are struggling to resume work in virus-hit China as they face disrupted supply chains, rising inventory and quarantine rules meant to contain the deadly epidemic, the EU chamber of commerce said on Tuesday (Feb 18).. Read more at straitstimes.com.

"The whole process is stuttering to get back as the magnitude of the challenges is just huge," Mr Wuttke said."How long this is going to last is anybody's guess."More recently, Beijing now requires people arriving in the capital to go into a 14-day self-quarantine.

"We believe that through hard work... we will still be able to achieve the economic and social development goals and tasks that we have set out," Mr Xi said.This has become a"logistical nightmare" and problems moving goods lead to rising inventory, said Mr Wuttke.

It does not help that companies require massive amounts of masks - that they cannot easily procure - for employees before they can restart operations, he said.A survey of 109 manufacturing firms by the American Chamber of Commerce in Shanghai released on Monday found that almost 80 per cent of respondents did not have enough staff to run a full production line.

On Monday, Apple announced that it would miss its March quarter revenue forecast, and that global iPhone supplies would drop due to the virus epidemic in China.

Read more: The Straits Times

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