US companies present in China expect their revenues to fall due to the coronavirus

US companies present in China expect their revenues to fall due to the coronavirus
Photo by EFE

87% of those who responded to a survey by the US Chamber of Commerce in Shanghai believe that the current epidemic of the coronavirus that causes Wuhan pneumonia will have a direct impact on its benefits during 2020.

Of these, 24% predicted revenue drops of at least 16% over the previous year. In addition, 29% of the 127 companies participating in the survey – conducted between February 4 and 6 and published this Friday – felt that their headquarters have not understood the possible economic impact of the coronavirus.

Likewise, and as a preventive measure against the virus, 60% of those who responded are planning to make teleworking mandatory during the current health crisis, something that the majority already offers voluntarily.

On the other hand, 16% calculated that China’s gross domestic product will fall by more than 2% in 2020 as a result of the coronavirus crisis.

Among the 127 participants, 20 companies obtain benefits in China of more than 500 million dollars (456 million euros) and 27, between 100 and 500 million dollars (between 91 and 456 million euros, respectively).

The coronavirus epidemic has already left 722 dead among the 34,456 infections diagnosed to date in China, according to data published today by the National Health Commission of the Asian country.