Nearly Half of US Firms Surveyed Hold Back on China Investment Despite Profits

A survey says tariffs, export controls, weak demand, Chinese competition, and procurement barriers continue to weigh on expansion plans.

The Lujiazui financial district in Shanghai on June 5, 2024. Hector Retamal/AFP via Getty Images

Nearly half of U.S. companies surveyed by the US-China Business Council (USCBC) do not plan to invest in China this year, even though most respondents said their operations there were profitable.

The council’s 2026 Member Survey found that 49 percent of respondents had no China investment plans for the year, while 51 percent said they planned to invest.