While Google will most likely shut down its Chinese search engine rather thatn submit to censorship, the company is reported to be concerned about its other business interests in China.

Google hasn't yet confirmed or denied reports that it's almost certain to shut down its Chinese search engine after authorities delivered an ultimatum to either accept censorship of leave, and new reports say it's worried that this may mean sacrificing other business.
Apart from the search engine, Google also have maps, mobile phone and language translation services in China – and revenues from China are booming. In addition, Google employs about 500 people in China.
The censorship issue arose in January when the Google accounts of Chinese activists were hacked.