CHINESE businesses are retreating from US investment as relations deteriorate, reports London's Financial Times.
Chinese investment plunged to US$2.5 billion in the US last year, the lowest in more than a decade and down from a record $48 billion in 2016, according to an analysis by the New York think tank Rhodium Group.
"The environment in the US has become more challenging for Chinese investors," says Adam Smith, a partner at law firm Gibson Dunn and a former US Treasury advisor. "Being concerned about China has become a real bipartisan issue upon which almost everybody can agree, rightly or wrongly."
More than 80 per cent of Chinese companies cited the stalemate in bilateral relations as the leading challenge for business, according to the latest survey conducted by the China General Chamber of Commerce, which represents Chinese investors in the US. More than one-third reported unstable US policies towards foreign investment as a concern.
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