BEIJING (AP) — A business group says U.S. companies in China report revenue and profits fell last year, hurt by a slowing economy and more burdensome government regulation.

The American Chamber of Commerce in Shanghai said Thursday that companies responding to an annual survey reported performance declined for a second straight year.

The chamber said "the 'new normal' for U.S. companies in China will be characterized by a maturing economy that is likely to generate weaker growth returns and rising business challenges."

It said companies find China's regulatory environment "increasingly challenging" and appealed to the government to make its "vague regulatory framework" simpler and easier to understand.