European companies in China are finding it harder to make money in the country as growth slows and overcapacity pressures increase, according to a survey released Friday by the EU Chamber of Commerce in China.
In the metropolis of Shanghai, business members even reported delays in getting paid as it became more difficult to enforce contracts versus the prior year, according to chapter head Carlo D'Andrea. That reflected a crash in the Chinese stock market in the summer of 2015, alongside a slowdown in the real estate market at the time, EU Chamber President Jens Eskelund pointed out to reporters.
It was not immediately clear whether this was due to a new regulatory stance or typical tax audit requirements. China's National Bureau of Statistics is due to release fixed asset investment, industrial production and retail sales for April next Friday.China's emphasis on manufacturing, coupled with modest domestic demand, has led to growing global concerns that overproduction will reduce profit margins.
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