FILE - A man with a shopping bag walks out from a ZARA flagship store at a shopping mall in Beijing, on June 21, 2023. American companies operating in China view tensions with Washington over technology, trade and other issues as a major hindrance for their businesses there, according to a survey by the American Chamber of Commerce in Shanghai.
Overall, the survey showed sentiment worsened from last year, when companies were embroiled in disruptions from “zero-COVID” policies that caused parts of entire cities, transport networks and travel to be shut down, sometimes for weeks at a time. Companies face a growing threat from “nimble, innovative local businesses and state-owned enterprises, which have enjoyed stronger support in recent years and whose consolidation has made them increasingly competitive with large multinational corporations," the survey said.
In the 2022 survey, 40% of manufacturers surveyed said China was among their top three investment destinations, while this year that dropped to 26%. The survey results echoed those found by other foreign business groups. Foreign companies are on edge following unexplained raids on two consulting firms and a due diligence firm. The expansion of an anti-spying law and a push for self-reliance in technology also are seen as risks.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: WSJ - 🏆 98. / 63 Read more »