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US Biz Organizations Survey: Record High Proportion of Halting New Investments in CN, Moving Biz Out
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The US-China Business Council, surveying 130 member companies from March to May this year, found that over half of the respondents entirely had no plans for new investments in China this year, marking the highest level since the survey began, according to a report by the Associated Press. 40% of the surveyed companies reported negative impacts from US export controls, including sales losses, broken customer relationships, and reputational damage from being perceived as unreliable suppliers. Besides, 82% of the surveyed companies logged profits last year, but less than half expressed optimism about their future in China. 27% of the respondents planned to move their operations out of China, setting a historical high, up from last year's 19%. However, almost all surveyed companies indicated that they cannot maintain global competitiveness without business in China. AASTOCKS Financial News Website: www.aastocks.com |
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