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China says only small number of firms moving supply chains out of the country

EconomyJul 01, 2019 10:56PM ET
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© Reuters. China says only small number of firms moving supply chains out of the country

BEIJING (Reuters) - Only a small number of companies are moving supply chains out of China, a commerce ministry official said on Tuesday, amid signs that some firms are shifting production to other countries as the U.S-China trade war drags on.

The problem shouldn't be overstated, Chu Shijia, a department director at the ministry, said at a media briefing.

In recent years, some Chinese manufacturers had already started to relocate capacity to countries such as Vietnam and Cambodia, due to high operating costs at home. The Sino-U.S. dispute is now pushing more to follow suit, especially makers of low-tech and low-value goods.

Some Chinese companies had concerns initially when the trade frictions started, but now they have found some ways to cut costs and to minimize the impact, Chu said.

China says only small number of firms moving supply chains out of the country
 

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Comments (4)
Kwangbin Lee
Kwangbin Lee Jul 02, 2019 1:20AM ET
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very unsurprisingly only chinese people believe what their government 'says'.
Vincent Sheu
ShaneS Jul 02, 2019 12:12AM ET
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Do you believe Trump or China's Commerce Department? Easy choice. In addition, some companies are moving out of US due to higher cost from the tariff.
Fred Smith
Fred Smith Jul 01, 2019 11:50PM ET
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The fact that China said that means more are moving out. Why are they begging the USA
Changyi He
Changyi He Jul 01, 2019 11:50PM ET
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lol, Apple just moved their factories from US to China. But i guess you guys live in alternate universe
Kwangbin Lee
Kwangbin Lee Jul 01, 2019 11:50PM ET
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Changyi He  that was years ago and now they are considering moving out. No advantage in China because of oppressive regime + high labor cost
David David
David9 Jul 01, 2019 11:50PM ET
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That was just yesterday....Apple moving MAC pro back to China. Lol
Kwangbin Lee
Kwangbin Lee Jul 01, 2019 11:50PM ET
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David David  I read it too, but they mentioned about MAC pro, not about the corporate strategy. Individual products can't be moved out so fast
David David
David9 Jul 01, 2019 11:47PM ET
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I told you guys ... it is very hard to produce in anither country. China is the only country that has the infrastructure, the skill, the workers, to produce quality products at a low price. Trump now just realized it is not easy to go against China as they are fully integrated into the world's economic system. The world relies on China to produce the goods.
John Niemotka
John Niemotka Jul 01, 2019 11:47PM ET
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Yes, and I’m an American that agrees. However, fair trade practices should be the objective.
 
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