CNFI warns Taiwanese businesses in China hit hard by the pandemic
The Chinese National Federation of Industries (CNFI) is warning that large numbers of Taiwanese businesses in China are facing financial problems because of the coronavirus pandemic.
According to the Taipei-based business group, a recent survey found that more than 80% of company owners say their revenue has declined significantly this year.
Many of the group's members are small to medium-sized businesses, and they're citing falling overseas orders and restrictions on personnel and logistics movements as being the biggest problems.
The federation says roughly 49.2% of those polled say their manufacturing capacity currently remains at 70%, while 6.9% say their operations had yet to resume since the pandemic began.
And the federation is now calling on the government to help the companies and tailor its industrial bailouts to short, medium and long-term policy goals to better help affected businesses.
The government's first two bailout programmes were issued in March and May. The Bailout 3.0 programme is still pending final legislative review.