Nearly 25 Percent of US Firms in Shanghai Shrink Investment Plans due to COVID Lockdowns: Report

Customers shop at apple's flagship store on Nanjing Road pedestrian street in Shanghai, China, Feb. 23, 2022. Costfoto/Future Publishing via Getty Images

The 2-month lockdown in Shanghai is revealing its economic impact as about one quarter of American companies have reduced their investment size, according to the American Chamber of Commerce (AmCham) in Shanghai.

An AmCham June survey shows that 25 percent of consumer and service companies have reduced their investment plans, as have 20 percent of manufacturing companies; and that only one respondent plans to expand its investment.