US Firms Rethink China Investment on COVID Concerns: Business Group Survey

Strict COVID-19 control measures in China have overtaken sour US–China relations as the top concern of US companies in the country, a business lobby said on Monday. It said more than half of its firms reported the issue as a reason to cancel or delay investments in China. “The looming possibility that companies will again be forced to partially halt operations due to lockdowns and the impacts of local controls on consumer demand have undermined confidence in the business environment,” the US–China Business Council (USCBC) said based on an annual survey of 117 member companies.