SHANGHAI -- U.S. companies operating in China are warning that strict virus controls, including a lockdown in the financial capital Shanghai, have dealt a blow to their business and could prompt some to relocate if the controls drag on.
A joint survey by the American chambers of commerce in Beijing and Shanghai, published Friday, found that over half of 167 respondents, including 76 manufacturers, expected a revenue decline this year due to nationwide COVID-19 outbreaks in recent months, while some 16% of companies surveyed said they would consider moving their operations out of China.
