SHENZHEN, China (Reuters) – European companies in China are more and more seeking to shift their investments to different markets as a result of nation’s strict COVID-19 containment measures and provide chain disruptions, the European Chamber of Commerce in China stated on Thursday.

A member survey discovered that just about 1 / 4 of respondents had been contemplating transferring present or deliberate investments out of China, greater than double the quantity at first of the 12 months.

“Our members are weathering the storm for now, but when the present scenario continues, they are going to more and more consider alternate options to China,” stated the chamber’s president, Jorg Wuttke.

Lockdown measures have disrupted provide chains, with 92% of respondents saying that they had been negatively impacted by current port closures, decreased highway freight and rising sea freight prices.

As of Tuesday, 43 cities are beneath full or partial lockdowns or have carried out district-based controls, which contain strict mobility restrictions for native residents, in response to Nomura.