US companies see record-low profits in China amid geopolitical tensions and slow growth, report says

HONG KONG (AP) — American companies in China are seeing record-low profits, with business confidence at an all-time low amid U.S.-China tensions and a slowing Chinese economy, according to a report published Thursday by a U.S. business group.

Out of 306 companies polled, a record-low 66% were profitable in 2023, according to the China business report published by the American Chamber of Commerce in Shanghai.

The report also found that only 47% of respondents were optimistic about...