US firms in China say vague rules, tensions with Washington, hurting business, survey shows

  • 📰 ksatnews
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 53%

United States News News

United States United States Latest News,United States United States Headlines

An American Chamber of Commerce survey shows American companies operating in China view tensions with Washington over technology, trade and other issues as a major competitive obstacle for their businesses there.

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 442. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US firms in China say vague rules, tensions with Washington, hurting business, survey showsAn American Chamber of Commerce survey shows American companies operating in China view tensions with Washington over technology, trade and other issues as a major competitive obstacle for their businesses there.
Source: AP - 🏆 728. / 51 Read more »

American Business Confidence in China Slumps to Lowest in DecadesGeopolitical tensions and a deteriorating operating environment are cited as reasons for the slide in profitability and optimism.
Source: WSJ - 🏆 98. / 63 Read more »