A garment factory in Shijiazhuang, China.

(European News Agency file photo)

[Compiler Guan Shuping/Comprehensive Report] Affected by China's previous strict "clearing" epidemic prevention policy, two new surveys show that more and more foreign companies in China have begun to consider Find another production alternative.

The "South China Morning Post" reported on the 14th that the European Chamber of Commerce in Vietnam announced on the 12th a survey of more than 200 European companies, pointing out that during the fourth quarter of 2022, the proportion of European companies that have moved some of their Chinese business to Vietnam has increased from the previous quarter. 13% of the total increased to 41%; the ratio of those who have not yet transferred their Chinese business to Vietnam dropped from 76% to 31%.

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Alain Cany, president of the European Chamber of Commerce in Vietnam, said that it is clear that European investors in China are looking for a more stable business and investment environment. European investors are investing in Vietnam, especially after the pandemic".

The report pointed out that foreign companies have begun or considered relocating part of their business in China to neighboring countries such as Vietnam and India, which once again shows that Beijing's "clearing" policy has caused damage to China's reputation in the global supply chain.

"Over the past 40 years or so, China has established itself as a global production powerhouse, and this current trend of European companies relocating to Vietnam is significant because it shows a clear shift in the argument," Carney said.

Another survey released by the German container logistics platform Container xChange on the 10th also showed that among the 2,600 companies interviewed in more than 20 countries, 67% said that after China's "clearing" policy restrictions, they are considering finding other places for production, Manufacturing, Vietnam, India are considered the most attractive locations.

The report pointed out that China is still important, but manufacturing companies will increasingly diversify and diversify their business from China.

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