On June 3rd, according to a survey by the Shanghai Japanese Commerce and Industry Club, 9% of the club’s 129 member companies said they would reduce investments in Communist China, while 5% of the respondents answered they would postpone it. Another 39% said they did not know yet, but it was possible that pulling back from investments would become a topic for future discussion, while 1% answered they would increase investments.
The CCP’s strict two-month-long lockdown in Shanghai was a heavy blow to the companies’ operations, forcing factories to shut down and businesses to suspend their operations. 88% of respondents predicted their sales would decrease in 2022 due to CCP’s lockdown, while 29% of companies chose the answer that the sales would decrease by over 20%.
In addition, a similar survey by the EU Chamber of Commerce in China indicated 23% of respondents were considering moving their Chinese investments to other markets.
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