Foreign companies' outlook on China sours due to tighter regulations and data restrictions

Sentiment among US and European companies operating in China has turned sharply negative due to China's tighter regulations and data restrictions.

American Chamber of Commerce survey found only 50% of members optimistic about China's business environment in next 5 years, a record low.

European Union Chamber of Commerce reports European presence in China is lower than any time in past 3 decades.

Companies cite new espionage laws, data restrictions, and export controls as reasons for souring on China.

Rising wages in China also making operations in other Asian countries more competitive compared to China.