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US Companies In China Are More Negative About The Future

Business/EconomyUS Companies In China Are More Negative About The...

According to a study released on Wednesday by the American Chamber of Commerce in China, American companies doing business in China are growingly pessimistic about their prospects in the second-largest economy in the world.

For the first time in the survey’s 25-year history, the majority of respondent businesses stated that China is no longer a “top three investment priority.”

The clear majority also indicated no plans to totally move their businesses outside of China, although most said they were modifying their China investment plans to invest the same amount or less overall in the nation.

According to Colm Rafferty, chairman of AmCham China, “last year was extremely difficult for our member companies, as they coped with China’s economic recession, COVID control measures, and continued efforts to assure compliance with many new US and China-related rules.”

Increasing tensions between the United States and China are still the biggest economic challenge, according to 66% of respondents, and 65% of members said they were “unsure or uncertain” about how much more China will open up to foreign investment.
A year ago, nearly half of the American companies polled said they felt more welcome in China. Today, however, they feel less welcome.

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