AmCham China, Tianjin was pleased to welcome William H. Klein, U.S. Embassy Chargé d’Affaires and Minister Counselor for Political Affairs, and Gregory Harris, Counsellor of the Commercial Section. Mr. Klein shared opening remarks, welcomed Tianjin’s international business community and addressed questions from the guests.
Following Klein’s opening remarks, AmCham China President Alan Beebe presented highlights from the 2021 Business Climate Survey (BCS) report. According to Mr. Beebe, surveyed data shows that 2020 was a challenging year for most foreign businesses operating in China due to US-China tensions and the global pandemic. However, despite these challenges, the outlook among the foreign business community in China remains relatively positive, largely due to the Chinese government’s early and stringent response to the pandemic, an improving investment environment, and anticipation of a more predictable policy environment.
AmCham China, Tianjin Chairman Michael Hart elaborated on Tianjin-specific survey results, citing the pandemic’s significant impact on operation revenue. Tianjin results also show that businesses operating in the region are generally optimistic with the outlook of US-China relations, with 52 percent of responses being “will improve.” Unlike the general BCS report results, “rising labor costs” was the top business challenge for the Tianjin business community.
The event concluded with a panel discussion on the implication of the 2021 BCS results, featuring event speakers and AmCham China Vice Chair Colm Rafferty and moderator Sitao Xu, Chief Economist and Partner at Deloitte China.
AmCham China, Tianjin would like to thank the U.S. Embassy Beijing for their cooperation and the Four Seasons Hotel Tianjin for venue support.
About the 2021 Business Climate Survey Report:
This is the 23rd consecutive year that AmCham China has surveyed its members on China’s business climate, with the results providing invaluable insight into the longer-term trajectory of China’s corporate environment. The BCS results contain input from around half of the Chamber’s member companies and elaborate on the impact of COVID-19, the progress of regulatory developments, such as intellectual property (IP) protection and cybersecurity, while continuing to assess the impact of US-China trade tensions.