21:55 27 February 2020
Covid-19 hits European companies in China
The outbreak of coronavirus and measures to combat it severely disrupt the activities of European companies in China, the EU Chamber of Commerce and the German Chamber of Commerce in China said on Thursday. At the same time, both chambers call for standardization of regulations to help the economy.
The impact of the epidemic on operations was felt by each of the 577 companies that took part in the survey conducted jointly by both associations among their members. 90 percent of respondents described this impact as medium or strong, and half intend to lower their business goals for the current year.
"The mosaic of conflicting rules that arose out of the Covid-19 fight has generated hundreds of fiefs, making it almost impossible to move goods and people through China," said Joerg Wuttke, president of the EU Chamber of Commerce in China.
"Mastering the virus is the most important task, but standardization of regulations across larger jurisdictions should also be a priority to lift the real economy back on its feet," he added.
(PAP)
