European chamber of commerce - Latest News Update, Information, Photos & Videos on European chamber of commerce at Lokmat Times

Washington, June 9 European businesses have seen higher margin in China than globally and are increasing investment in the country following its quick recovery from the Covid-19 pandemic last year, according to a report.The proportion of European companies planning to expand China operations in 2021 jumped to nearly 60 per cent from 51 per cent last year, as per the report on Tuesday, citing a survey by the European Chamber of Commerce.About half of the 585 surveyed respondents reported higher profit margins in China than their global average, while the proportion was 38 per cent last year, Xinhua reported.Additionally, 73 per cent of the respondents reported a profit last year, with another 14 per cent breaking even. The figures were about the same level as in previous years despite the pandemic disruption, reflecting the speedy recovery of the Chinese economy, the report observed."The resilience of China's market provided much-needed shelter for European companies amidst the storm of the Covid-19 pandemic," the survey said.Meanwhile, a quarter of the surveyed businesses are "onshoring" their supply chains in China, the report added."The main point is to develop supply chain as mush as possible here, as far as it's possible, to provide what's needed for the market here," the report quoted Charlotte Roule, a board member of the chamber, as saying.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Narendra Modi

Lok Sabha Election 2024

Heatwave In India

Mumbai Mega Block

Maharashtra Lok Sabha Election

T20 World Cup 2024

European Chamber Of CommerceFOLLOW

European chamber of commerce, Latest News

International :Foreign firms in China concerned over huge data transfer due to draconian social credit system: Report

As Beijing has imposed a social credit system nationwide to measure the reliability of individuals, the European Chamber of Commerce in China in its report has said the foreign firms, are worried about huge data transfers that are prospective to cont ...

Politics :European firms increasing investment in China after Covid

Washington, June 9 European businesses have seen higher margin in China than globally and are increasing investment in ... ...