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.

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Text: Hannakaisa Andersson, Team Finland Coordinator, Embassy of Finland, Beijing