Global firms weigh in on China’s economic outlook

Published by: Vivek Dubey

As China’s economy struggles to recover from the pandemic, many global companies are taking a careful approach to their business in the country.

Here are some of their views from the latest earnings season:

Citigroup

The lender called it the "biggest disappointment" as growth decelerated after an initial post-reopening pop.

Dow Inc

The chemical maker said the anticipated rebound following the end of pandemic curbs has yet to fully materialise.

NXP Semiconductors

The chipmaker said China's export curbs on certain gallium and germanium products did not impact the company.

3M Co

The industrial conglomerate flagged continued weak appetite for consumer electronics demand in China.

GE Healthcare

The company sold more medical equipment in China and expects that to continue as China improves its healthcare system

ABB

The company got fewer orders from China and said some customers moved their investments to other parts of Asia because of political issues

LVMH

The French luxury giant logged a strong rebound in China during the second quarter.

EssilorLuxottica

The luxury eyewear maker continued to benefit from a recovery in China during the second quarter.

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