Business confidence among American companies in China has reached historic lows due to U.S.-China tensions and China’s slowing economy. Only 66% of member companies surveyed were profitable in 2023, the lowest on record. Confidence metrics also hit all-time lows, with only 47% of respondents optimistic about their five-year outlook. A record 25% of companies cut investment in China last year, citing economic slowdown as the main factor. Foreign direct investment into China also fell in the first half of the year.
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00:00It's Benzinga and here's what's on the block.
00:03Business confidence among American companies in China has reached historic lows due to
00:07US-China tensions and China's slowing economy.
00:10Only 66% of member companies surveyed were profitable in 2023, the lowest on record.
00:16Confidence metrics also hit all-time lows, with only 47% of respondents optimistic about
00:21their five-year outlook.
00:23A record 25% of companies cut investment in China last year, citing economic slowdown
00:28as the main factor.
00:30Foreign direct investment into China also fell in the first half of the year.