What are global companies saying about China's economy?

investing.com:

(Reuters) — Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery at the world's second-largest economy from a pandemic slowdown.

Following are comments from firms on their China business during the latest reporting season:

Commentary

Company

Procter & Gamble (NYSE:PG) The Tide detergent maker reported an overall volumes fall of

1% in its fourth quarter, mainly due to weaker demand in the

Greater China region.

Intel (NASDAQ:INTC) «The China market, I think, has been well reported, hasn't

come back as strongly as people would have expected

overall,» said Intel CEO Pat Gelsinger.

AbbVie Inc (NYSE:ABBV) The Botox maker said it has seen rates for aesthetics

treatments in China fully recover to pre-COVID levels and

continues to anticipate strong growth through the rest of

the year in the country.

Mastercard (NYSE:MA) Inbound cross-border travel to China stood at nearly 50% of

2019 levels, while outbound travel was nearly 70%, the

company said.

Anglo American (LON:AAL) The global miner said it has been surprised by how slow the

reopening of China has been but believed a recovery was

underway.

L'Oreal The Chinese market is «really picking up,» although «not at

the speed everybody had hoped for,» L'Oreal CEO Nicolas

Hieronimus told Reuters.

Mobileye Global Saw weak demand for its driver-assistance

technology in China.

Coca-Cola (NYSE:KO) The company saw strong demand for some juice business in

China but also flagged destocking activity in the second

quarter.

Seagate The computer hardware maker said its fourth-quarter

Technology performance was impacted due to the uneven pace of the

Chinese economic recovery.

LG Energy