2nd Team Finland Flash Survey shows that Finnish businesses in China face increasing headwinds
Team Finland China today released a second survey on the impact that China’s COVID-19 policy and Russia’s war in Ukraine are having on Finnish businesses in China. The survey was conducted between 20 and 27 May 2022 as a follow-up to the previous one conducted in April 2022.
The results show that the introduction of more stringent COVID-19 containment measures is causing uncertainty for businesses. Significantly, 71% of respondents have decreased their revenue forecasts, in comparison to 50% in the previous survey.
The war in Ukraine has also exacerbated challenges faced by Finnish businesses in China, with 42% of respondents considering negative impacts on their revenue expectations. However, more than a third of respondents do not see a direct link between the war and revenue expectations.
Despite the amounting challenges to Finnish business operations in China, Finnish companies have not left the Chinese market as of now.
Text: Hannakaisa Andersson, Team Finland Coordinator, Embassy of Finland, Beijing