{"id":40494,"date":"2023-07-25T23:46:52","date_gmt":"2023-07-26T03:46:52","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/factbox-what-are-global-companies-saying-about-chinas-economy\/"},"modified":"2023-07-25T23:46:54","modified_gmt":"2023-07-26T03:46:54","slug":"factbox-what-are-global-companies-saying-about-chinas-economy","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=40494","title":{"rendered":"Factbox-What are global companies saying about China’s economy?"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: A man walks in the Central Business District on a rainy day, in Beijing, China, July 12, 2023. REUTERS\/Thomas Peter\/File Photo<\/span>
\n<\/i>\n<\/div>\n

(Reuters) – Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from a pandemic slowdown.<\/p>\n

Following are comments from firms on their China business during the latest reporting season:<\/p>\n

Company China recovery comments <\/p>\n

Citigroup <\/span><\/span> (NYSE:) The lender called it the “biggest disappointment” as growth <\/p>\n

decelerated after an initial post-reopening pop. <\/p>\n

Dow Inc The chemical maker said the anticipated rebound following <\/p>\n

the end of pandemic curbs has yet to fully materialize. <\/p>\n

NXP (NASDAQ:) The chipmaker said China’s export curbs on certain gallium <\/p>\n

Semiconductors and germanium products did not impact the company. <\/p>\n

3M Co The industrial conglomerate flagged continued weak appetite <\/p>\n

for consumer electronics demand in China. <\/p>\n

GE Healthcare The company saw improved demand for medical equipment in the <\/p>\n

region in the recent quarter and that is expected to <\/p>\n

continue as China prioritizes improved healthcare access <\/p>\n

following the end of the pandemic. <\/p>\n

ABB The engineering firm witnessed fewer new orders from China <\/p>\n

in the quarter and said some customers were shifting <\/p>\n

investments to other parts of Asia due to geopolitical <\/p>\n

tensions. <\/p>\n

LVMH The French luxury giant logged a strong rebound in China <\/p>\n

during the second quarter. <\/p>\n

EssilorLuxottica The luxury eyewear maker continued to benefit from a <\/p>\n

recovery in China during the second quarter. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: A man walks in the Central Business District on a rainy day, in Beijing, China, July 12, 2023. REUTERS\/Thomas Peter\/File Photo (Reuters) – Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world’s second-largest economy from […]<\/p>\n","protected":false},"author":1,"featured_media":20654,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-40494","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nFactbox-What are global companies saying about China's economy? | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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