Caixin
Jan 08, 2019 08:24 PM
ECONOMY

Trade War Fuels Majority of Export Manufacturers’ Shift Out of China, Survey Shows

Companies planning to move favor places like Hong Kong, South Korea, Japan and Taiwan over countries in Southeast Asia. Photo: VCG
Companies planning to move favor places like Hong Kong, South Korea, Japan and Taiwan over countries in Southeast Asia. Photo: VCG

Most export manufacturers in China have already moved or plan to shift some production outside the Chinese mainland, as the Sino-U.S. trade dispute adds to existing headwinds for businesses, a survey by Swiss investment bank UBS has showed.

Thirty-seven percent of the respondents said they have moved some production out of the mainland in the past year, the bank said in a report released on Friday about the poll. Another 33% of respondents said they plan to do so in the next six to 12 months.

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