China’s business outlook has dropped to a historic low while revenue forecasts reached the lowest in a decade, according to hundreds of American businesses operating in the country.
An annual business report released by the American Chamber of Commerce in Shanghai (AmCham Shanghai) on Oct. 28 showed that only 55 percent of the companies surveyed were optimistic or slightly optimistic about China’s five-year business outlook, a significant 23-point drop from 2021.
Key findings in the 2022 China Business Report indicate that 47 percent of respondents project year-on-year revenue growth in 2022, plunging 29 points from last year and the lowest expectation in at least a decade….