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EU Chamber of Commerce: only 64% of European Companies in China Profitable
Aggregated Source: China Challenges

A recent survey says:

As China's economy loses some of its steam and its marketplace matures, European companies in China have started to feel a pinch to their bottom lines. The number of EU companies reporting revenue growth shrank to just 62% and those noting profitability growth decreased to 44%, leaving only 64% of European companies in China profitable. The most notable factor negatively affecting net profit margins is rising labour costs, but slower economic growth in both China and Europe, as well as increased competition, also had notable affects.

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