Connect with us

Hi, what are you looking for?

Imsilkroad

China remains most attractive offshore supplier location: report

Abstract : For many companies considering changing suppliers in the wake of supply-chain disruptions during the COVID-19 pandemic, China remains the most attractive outside their main country of location, according to a latest survey by credit insurer Euler Hermes.

FRANKFURT, Dec. 12 (Xinhua) — For many companies considering changing suppliers in the wake of supply-chain disruptions during the COVID-19 pandemic, China remains the most attractive outside their main country of location, according to a latest survey by credit insurer Euler Hermes.

The survey was conducted between mid-October and early November among 1,181 companies in Germany, the United States, the United Kingdom, France and Italy. As many as 94 percent of the companies surveyed said they had a temporary disruption in their supply chain, said Euler Hermes, a subsidiary of German insurer Allianz, in a report published Thursday.

In response to the supply-chain disruptions, 52 percent of the companies said they had taken protective measures. Fifty-five percent are considering looking for new suppliers in the next six to 12 months — in a third of the cases, they are considering moving suppliers to countries that are already in their top three existing supplier locations, the results showed.

For those considering moving, Chinese suppliers remain the most popular outside local ones, the report said. According to the survey, China appears in the top three for 18 percent of the surveyed companies considering changing suppliers.

The report cited a preference towards a continuation of current supply chain dynamics, as well as a search for cost-effectiveness in times of great uncertainty, as possible reasons behind the choice.

The survey found companies based in Germany, Italy and the UK mention China as their first choice significantly more than others. The report said 30 percent of UK companies considering changing suppliers mention China in their top three choices.

The report noted that companies in the automotive sector in particular find China attractive when looking for new suppliers. Companies that are highly digitized are significantly more likely to look for suppliers in China, it also said.

The survey also found that less than 15 percent of those concerned with relocation are considering “reshoring” — bringing production back home. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China remains most attractive offshore supplier location: report

Press Release Wring Service
Press Release Wring Service Senmer Press Release Service

Trending

You May Also Like

Purifier

Hot selling well newest reserch humidifier with three grades mist output air purifiers 1 Specification& function Specification Product name 6-Stage Purification Air Purifier With Negative Anion and Humidifier Model No. OLS-K05 Negative ionic releasing(/cm3) 50 million...

Purifier

Best indoor air purifier small house purification with HEPA Porduct Name Air Purifier Model A3 Style Household / business type Lowest Noise 30 dB Particulate CADR 200m³/h Highest Noise 58 dB Voltage 110 / 220V(Optional) Rated Power...

Sticky Post

Repost Your Products Articles To Web2.0 + Social Sites + Photo Sites + Bookmark Sites 0.5$ to publish 1 article to 15 sites,average just...

Purifier

We believe that always we would hear the hydrogen water have antioxidation fuction, actually we don’t know what is antioxidation and why it’s so...