Foreign firms in China express cautious optimism for 2023, but geopolitical risks, market barriers remain

Geopolitical tensions between China and the United States remain one of the major concerns for Western businesses, especially American companies in China. US companies still face hurdles due to the strained bilateral relationship between the two countries, said Jack Kamensky, senior director with the US-China Business Council (USCBC), on Saturday. “Chinese companies often receive preferential support from the government, which can put American firms at a disadvantage,” said Kamensky. “In addition, companies are concerned by developing Chinese policies around data, privacy, and cybersecurity and their impacts on operations.”