Organisers of the Beijing autoshow, which was scheduled to be held in late April, said on Saturday that they will postpone the event until further notice due to the COVID-19 resurgence across the country.
“We will pay close attention to the development of the epidemic, and strive to enhance the event’s organisation and service work according to the requirements of the epidemic prevention and control policy,” Secretariat of Auto China said in a post on its official WeChat account.
“The specific holding time after the extension will be notified separately.”
US companies in China reduce revenue projections
More than half of US multinational companies in China have reduced their annual revenue projections, mostly due to the recent COVID-19 outbreak in Shanghai, according to a joint survey by the American Chambers of Commerce in Shanghai and Beijing published on Friday.
Responses to the survey, conducted with 167 companies operating throughout China including 76 in manufacturing, found 82% of manufacturers reported slowed or reduced production due to a lack of employees, inability to obtain supplies, or government-ordered lockdowns.
More than half, or 54%, have cut 2022 revenue projections following the outbreak, though 38% said it was too early to estimate the impact.
Some manufacturers in Shanghai, particularly in the automotive industry, have resorted to operating with a “closed-loop”, wherein employees remain confined to the premises in order to keep production lines running, while outside suppliers are sealed off.
