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US businesses in China more optimistic, yet cautious on investment



US businesses in China have grown more optimistic about bilateral relations and profit prospects compared to last year, according to a survey by the American Chamber of Commerce in China. However, 43% of companies plan to limit new investments in the country, citing the US-China relationship, regulatory inconsistencies, rising labour costs, and data security issues as major concerns. The survey, gathering responses from 343 members in October 2023 before a key meeting between President Biden and President Xi Jinping, reflects a cautious stance towards investment in 2024, with over 40% of respondents indicating no intention to increase investments. Despite a slight improvement in viewing China as a global priority, 39% feel the business climate is less welcoming, underscoring ongoing challenges in the tech sector and perceived unfair treatment compared to Chinese firms.

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