US businesses in China are less optimistic about conditions in the country than at any point in the last quarter-century, a survey has revealed.

Just 41 percent of US businesses are optimistic about the five-year business outlook in China, according to the survey released on Wednesday by the American Chamber of Commerce in Shanghai.

The figure, down from 47 percent in 2024, is the lowest since AmCham Shanghai began releasing its annual business report in 1999.

Only 45 percent of respondents said they expected revenues to increase in 2025, AmCham Shanghai said, which would be a record low if realised.

Just 12 percent ranked China as their headquarters’ top investment destination, also the lowest in the survey’s history, according to the business chamber.

Businesses cited US-China tensi

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