The American Chamber of Commerce in Shanghai conducted a mini-survey between Tuesday night, February 4th and COB Thursday, February 6th in relation to the coronavirus and its impact on companies.
Questions focused on quantitative issues such as the coronavirus’s expected impact on corporate revenues and Chinese GDP, as well as workplace issues such as travel, work from home policies and repatriation of foreign staff.
The survey was answered by 127 companies, including 20 with China-sourced revenues of over $500 million, and 27 with China revenues of $100-500 million.
- 87% of companies responding believe the coronavirus will have a direct impact on 2020 revenues; 24% expect revenues to fall by 16% or more.
- 16% of respondents expect China’s 2020 GDP to fall by more than 2% as a result of the coronavirus.
- 29% of respondents believe that their corporate headquarters does not sufficiently understand the potential economic impact of the coronavirus.
- 60% of companies are planning a mandatory work from home policy for their staff, with almost all offering optional work from home.