More than one-fifth of American companies in China are back to normal operations after wide-ranging disturbances caused by the coronavirus pandemic, as per the news service from Beijing showed on Wednesday.
Almost a quarter of the representatives responded to the survey by the American Chamber of Commerce in China said they waited for a comeback to normal operations by the end of April, even if another fifth expect delays all around the summer.
“This is one of the fields that I think provides some sense of positivity,” the chamber’s president, Alan Beebe, said at a news conference underwriting the survey’s release.
The pandemic started in the central Chinese city of Wuhan last year, causing huge disturbances to business operations, supply chains, and economic activity. The disaster has killed more than 3,300 people and infected more than 82,000 in China alone.
Half of the 120 respondents to the survey are facing a decline in income of over 11%, and 13% reported losing at least a half-million Yuan ($70,784) per day as a result of postpones to re-opening businesses.
The news research also stressed on the point that the Reliance of American companies on China’s small and medium-sized businesses (SMEs), which have been slowed down to get back to work and are most vulnerable to cash flow breakdown.
“Longer-term policy measures aren’t enough for the little guys,” said Greg Gilligan, the chamber’s chair, warning that some may or may not make it long enough to see government rapport.
Eight in ten representatives said SMEs part of contribution was up to half of the annual incomes, and over a tenth noted that 75% or more of their supply chain depends on SMEs.
The cabinet is calling for its members to directly support their SME suppliers and customers, Beebe said.