BEIJING: Nearly a quarter of German companies operating in China are planning to relocate all or part of their business out of the country, according to a study released on Tuesday with many blaming rising costs. The German Chamber of Commerce’s annual survey of 526 member firms in China found that 23 percent have either already decided to withdraw production capacity in the country or are considering it. One-third of those companies have planned to leave China entirely. “Competition has to be fair,” said German Ambassador Clemens von Goetze at the launch of the study on Tuesday. This initiative “is mainly Chinese-financed and implemented by Chinese companies”, said the German ambassador.

Source: Manila Times November 12, 2019 17:58 UTC