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A large number of American businesses men feel less welcome in China amid a government crackdown that has ensnared foreign firms.
The finding has come to a light in a survey conducted by the American Chamber of Commerce in China that shows 60% of its members feel less welcome in the country, a marked increase from 41% in late 2013.
Nearly half of the respondents also believe that foreign firms have been unfairly singled out as part of pricing and anti-corruption campaigns conducted by Beijing.
Gregory Gilligan, the group’s chairman said, if the investment environment deteriorates too far, important relationships and linkages between China and the rest of the world will be materially damage.
The survey has also found that tech and autos companies have been targeted by the central government in recent months for alleged corruption, price-fixing or anti-trust violations.
Firms including BMW, Volkswagen, Qualcomm, Microsoft, Apple and Chrysler have been investigated by the government or forced to pay major fines.
In many cases, just coming under Beijing’s scrutiny is enough to damage company profits. While they may be getting extra attention, foreign firms aren’t the only ones under investigation. The central government has also put an eagle eye out on some Chinese state-owned firms as part of the anti-corruption campaign.