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17h ago

U.S. Firms Sour on China as AmCham Shanghai Survey Hits Record Lows

Companies cite U.S.-China tensions as their chief obstacle.

FILE - Shipping containers are seen ready for transport at the Guangzhou Port in the Nansha district in southern China's Guangdong province on April 17, 2025. (AP Photo/Ng Han Guan, file)
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China's and U.S.' flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • Only 41% of respondents are optimistic about their five-year outlook in China, the lowest reading since the survey began in 1999.
  • Investment priorities have shifted, with 47% diverting planned China spending mainly to Southeast Asia and only 12% ranking China as their top destination.
  • U.S.-China geopolitics is the dominant risk, with 66% naming it the biggest challenge over the next three to five years.
  • Just 45% expect revenue growth in 2025, while 64% anticipate new tariffs will depress this year’s revenue.
  • Perceptions of regulation improved, with 48% calling the environment transparent, and the survey of 254 firms followed President Trump’s tariff announcement and a temporary 90-day truce.