China's economy is still months away from a full recovery, business survey finds

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  • Roughly two-thirds of executives surveyed by the China Beige Book said they don’t expect their companies’ sales, profitability and hiring to return to 2019 levels until at least three months from now.
  • More than 3,300 interviews between Nov. 12 and Dec. 11 in its latest quarterly business survey, the third-party firm said.
  • For the fourth quarter, the China Beige Book found sharp drops in sales growth for luxury goods, food and apparel compared to the prior quarter.

Containers and trucks at the port of Qingdao, China on February 14, 2019.
Reuters

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BEIJING — China has not fully recovered from the shock of the coronavirus pandemic, business leaders said in a survey by the China Beige Book released Tuesday.

After about a year since Covid-19 first emerged in the Chinese city of Wuhan, roughly two-thirds of executives polled by the third-party firm said they don’t expect sales, profitability and hiring to return to 2019 levels until at least three months from now.

China Beige Book conducted more than 3,300 interviews between Nov. 12 and Dec. 11 in its latest quarterly business activity survey.

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