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German exports to China hit by slow customs processing, tech firms warn

News Snapshot:

A crane lifts a shipping container at the HHLA Container Terminal Altenwerder on the River Elbe in Hamburg, Germany, March 31, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing Rights FRANKFURT/MUNICH, Oct 26 (Reuters) – German technology groups have warned they are being hit by delays in getting China-bound exports through customs, following the introduction of a German government strategy to reduce economic dependence on demand from China. German chip-making kit supplier Suess MicroTec (SMHNn.DE) late on Wednesday cut its sales forecasts for the second time in three months, blaming tightened controls for exports to China. That sent shares in the maker…

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