AmCham China chairman Colm Rafferty said member companies are “undoubtedly undergoing a challenging time”.
“In the past, what has made China attractive to our member companies has been the country’s clear long-term strategic development goals, significant market opportunity, and a highly supportive and predictable business environment,” Rafferty said. “But, today, our members feel that the business environment has become a lot less predictable, largely due to the pandemic and its related restrictions. More worryingly, members don’t see any light at the end of the tunnel.”
The latest survey by the chamber showed that more than half of its member companies have cut revenue expectations for this year, while more than 60 per cent have suffered supply chain disruptions.
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