US companies in China see record-low profits amid geopolitical tensions

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US companies in China see record-low profits amid geopolitical tensions - Business Standard

Quick Summary:

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.

Out of 306 companies polled, a record-low 66 per cent were profitable in 2023, according to the China business report published by the American Chamber of Commerce in Shanghai.

The report also found that only 47 per cent of respondents were optimistic about their business outlook in China over the next five years, the lowest in the survey's history of more than two decades.