Nearly a quarter of German companies operating in China are planning to relocate all or part of their business out of the Asian country, according to a study released Tuesday by the German Chamber of Commerce in China.
The annual survey of 526 member firms in China found that 23% of them have either already decided to withdraw production capacity from the country or are considering it. A third of those companies have planned to leave China entirely.
The rest say they will transfer part of their business and production overseas, largely to lower-cost countries in Asia.
Operating costs in China have been rising as the country seeks to rebalance its economy from an export and investment-led model to one driven by services and consumer spending.
Of the 104 companies that have decided to leave or are considering doing so, 71% cite the rise in production costs — particularly for labor.
https://www.dw.com/en/german-firms-in-china-a-quarter-are-planning-to-leave/a-51208547
Another company for the list:
Gigaphoton Inc., a manufacturer of light sources used in semiconductor lithography, has announced the establishment and start of business for a new company GIGAPHOTON CHINA Inc. in China.
Until now, Gigaphoton’s service support in China has been conducted by Komatsu Industries Shanghai Ltd.’s optical machinery division. To expand business in China and strengthen governance, Gigaphoton China was established as a subsidiary of Komatsu China Ltd., the regional headquarters of Komatsu, which is the parent company of Gigaphoton. From November 1, control of operations is transferred from Komatsu Industries Shanghai to Gigaphoton China Inc.