However, more than a third of those polled expected that their own industrial situations would worsen – 6 percentage points higher than last year.
“Geopolitics have a profound impact on companies on the ground, prompting them to drive forward localisation and diversification strategies as risk-management measures,” said Jens Hildebrand, executive director of the chamber’s north China chapter.
Although almost 55 per cent of the surveyed firms said they intended to increase their investments in China over the coming two years, enthusiasm for doing so has waned in the German business community. More than 70 per cent had such plans in February 2021.
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