HONG KONG—American companies in China are seeing record-low profits, with business confidence at an all-time low amid US-China tensions and a slowing Chinese economy, according to a report published Thursday by a US business group.
The American and Chinese flags wave at Genting Snow Park ahead of the 2022 Winter Olympics on Feb. 2, 2022, in Zhangjiakou, China.
Beijing and Washington have been at odds in recent years over issues like trade and manufacturing, as well as China’s claims over the South China Sea. “It’s a balance between risk and reward,” said Eric Zheng, president of AmCham Shanghai, during a news conference ahead of the report’s publication. A record high of 25 percent of companies polled cut investment in China in 2023, AmCham’s report found, largely driven by concerns over China’s slowing growth.
The European Chamber’s report found that for some European companies, the risks of investing in China were beginning to outweigh the returns.
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