The American Chamber of Commerce in China (“AmCham China”) released a coronavirus impact survey, taken between March 14 and 18 on 199 US businesses in China. 57% of respondents expect 2020 revenues to decrease if business cannot return to normal before April 30. 60% expect revenue to drop anyway between 10% and 50% or more if business cannot return to normal before August 30.
Chairman Greg Gilligan: “Close to half of the companies said the global spread of the virus would have a moderate-to-strong impact on their China operations. But the views aren’t all grim: nearly a quarter of our companies expect a return to normal business operations by the end of April, while 22% have already resumed normal operations, and 40% report they will maintain previously planned investment levels, up significantly from last month’s survey.”
