View of the central business district skyline at sunset in Beijing, China.A record number of British companies are pessimistic about doing business in China and are taking a "wait and see approach," according to a survey by the British Chamber of Commerce in China.
Increasingly, strained geopolitical relationships, a slowing global economy, increased talk of self-sufficiency and shifting investor perceptions were the top challenges clouding the business outlook, the survey released on Tuesday said. "British companies are willing and want to invest in China ... there is, however, some uncertainty around that and that's where the survey results we have give us a little cause for concern," Julian MacCormac, chair of the British Chamber, told reporters in Beijing.
"Seventy percent of companies are saying it is too early to make these long term commitments to the China market," he added.