By Doug Young & Rene Vanguestaine

The latest annual survey by the EU Chamber of Commerce in China shows revenue fell for more European businesses’ China operations last year. Is this a watershed moment for China’s economy, showing the days of western enthusiasm for investing in the country will never return to pre-covid levels? And AstraZeneca has become the latest major company to weigh a potential spinoff of its China unit. Is this the beginning of a trend?

About China Inc

China Inc by Bamboo Works discusses the latest developments on Chinese companies listed in Hong Kong and the United States to drive informed decision-making for investors and others interested in this dynamic group of companies.

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BRIEF: PDD profit tumbles, shares sink

Bargain e-commerce platform operator PDD Holdings (PDD.US) reported Tuesday that its first-quarter revenue rose 10% year-over-year to 95.67 billion yuan ($13.2 billion), falling short of market expectations for 101.6 billion…