Record Number of European Firms Report Declining China Revenue in 2022

Nearly one-third of the European companies in China reported falling revenue in 2022, a record high going back to 2011 and a significant increase over the 10% reported in the previous year, a new survey showed.

The European Union Chamber of Commerce in China’s 2023 Business Climate Survey also showed that 64% of the respondents reported that doing business in the country grew more difficult in 2022, up 4 percentage points from the previous year and the highest level since the group began tracking the data point in 2014.