Monday, July 22, 2024
HomeBusinessMore than half of Japanese companies in China report declining sales

More than half of Japanese companies in China report declining sales

TOKYOMay 15 (News On Japan) – The Japan Chamber of Commerce and Industry in China released the results of a survey of Japanese companies operating in China. This shows that more than half of them report deteriorating sales trends.

On May 14, the Japan Chamber of Commerce and Industry in China announced the results of the “Economic and Business Environment Survey” conducted from March to April.

This was the third survey conducted, following the previous one late last year. The survey targeted approximately 8,000 Japanese companies in China and received 1,741 responses.

In terms of sales trends, 56% of respondents reported a “decrease” or “slight decline”, an increase of 9 points from the previous survey. In particular, automotive companies, which face intensified price competition in new energy vehicles, reported a significant drop in sales from 30% to 72% compared to the previous survey.

To this year’s forecast for the Chinese market, 50% of companies responded with “deterioration” or “slight deterioration”, an increase of 11 points from the previous survey.

On the other hand, the percentage of companies reporting plans to “reduce investments” or “not invest this year” fell by 4 points to 44%, showing a slight improvement.

Among companies that indicated they were reducing investments, some indicated plans to continue investing in research and development and human resources development, underscoring their strategic foresight.

Tetsuro Honma, chairman of the Japan Chamber of Commerce and Industry in China, analyzed: “Many companies are taking preventive measures to survive,” and stressed: “We will continue to urge the Chinese side to improve the business environment.”

Source: ANN

https://www.youtube.com/watch?v=8AAez1zCqJg

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

Translate »