On January 23 AmCham China launched the 27th annual China Business Climate Survey (BCS) Report. For over twenty years, the Chamber has been conducting the BCS to reflect on the business performance and outlook of member companies in China. The BCS Report serves as an important reference for understanding the overall sentiment of the American business community in China. The 2025 report is compiled from the responses of over 350 companies across 20+ different industries and covers a range of topics, including financial performance, business outlook, business environment, views on US-China relations, and more. The 2025 BCS Report has garnered attention from global media outlets, reflecting its importance in shaping discussions on US-China business relations. Read on to explore key coverage and reactions from leading international publications.
“Already business sentiment is nervous: an annual survey by the American Chamber of Commerce in China showed just over half of them were concerned about the US-China relationship deteriorating further.”
South China Morning Post – Rising US-China tensions top concerns of American firms in China, US trade group finds
“In all, 51 per cent of 368 member companies believed that the bilateral relationship could continue to deteriorate in 2025, the highest percentage in five years, according to the report from the American Chamber of Commerce (AmCham) in China, which was based on a survey conducted from October 21 to November 15, spanning a four-week period that overlapped with Trump’s November 5 election.”
“Reflecting these growing tensions, a record number of US companies in China — about 30% — are thinking of moving some operations out of the country or are already doing so, according to a survey published in January by the American Chamber of Commerce in China. A majority of firms expect relations to deteriorate this year, based on a survey of 368 members in October and November.
“More than half of American companies operating in China expect bilateral relations to get worse this year, according to an annual survey by the American Chamber of Commerce in China released Thursday.”
“About 30% of the respondents considered or started such diversification in 2024, surpassing the prior high of 24% in 2022, according to annual surveys from the American Chamber of Commerce in China.
That also exceeded the 23% share reported for 2017, when U.S. President Donald Trump began his first term and started raising tariffs on Chinese goods.
In addition to U.S.-China tensions, “one of the major impacts that we’ve seen in the last five years was Covid and how China closed itself off from the world because of Covid,” Michael Hart, Beijing-based president of AmCham China, told reporters Thursday.”
“The survey also revealed that 87 percent of respondents see positive bilateral relations as crucial to their operations in China, up 5 percentage points compared to 2023.
“US-China relations remain the most consequential bilateral dynamic in the world today, and understanding the perspectives of our members has never been more important,” said American Chamber of Commerce China Chair Alvin Liu. “A stable and constructive relationship, grounded in economic and trade ties, is critical not only for the prosperity of our two nations but also for global economic stability,” he added.”
“A stable and constructive relationship, grounded in economic and trade ties, is critical not only for the prosperity of our two nations but also for global economic stability,” said AmCham China Chair Alvin Liu.”
“Over half of the surveyed US enterprises anticipated increasing investment in their China operations in 2025, read the China Business Climate Survey (BCS) Report released by the American Chamber of Commerce in China (AmCham China) on Thursday.”
Financial Times – Record number of US companies weigh China exit as Trump tensions rise
“The annual survey by the American Chamber of Commerce in China found 30 per cent of respondents were exploring alternative sources for goods and relocating manufacturing out of the country last year, or had already done so — double the percentage in 2020.
Michael Hart, AmCham China president, said that while the majority of US companies were not moving, the trend towards relocation was unmistakable.
“I don’t see any reason to think that bilateral investment will increase in the next couple of years,” said Hart. “Companies [are] pivoting or bolstering their supply chain by making investments somewhere else.”
联合早报 – 美商会调查：企业担心中美关系进一步恶化比例五年来最高
“中国美国商会星期四（1月23日）公布的调查显示，超过半数在华美国企业担心世界两大经济体中美两国之间的双边关系进一步恶化，这一比例为五年来最高。”
“近一半的受访者仍将中国列为全球三大投资重点之一，这一比例与上年大致相同。不过，不再将中国列为首选投资目的地的企业比例，较疫情前增加1倍多，达到21%，比上年的调查结果上升3个百分点。”
[RFI] 调查 – 权衡将部分业务迁出中国的在华美企数量创历史新高
“这项调查还发现，考虑将部分业务迁出中国或已在迁出过程中的在华美国企业数量创下历史新高。30%的受访企业去年正探索其他商品来源，或已将制造业迁出中国，这一比例是2020年的两倍。中国美国商会会长总裁何迈可（Michael Hart）向英国《金融时报》表示，虽然大多数在华美企没有搬迁，但搬迁的趋势是显而易见的。”
北京日报 – 中国美国商会报告：超半数美国企业计划增加在华投资
“中国美国商会1月23日在北京发布《2025中国商务环境调查报告》。报告显示，53%的在华美资企业计划在2025年增加投资，仅有6%计划减少投资。美企认为2024年中国的投资环境有所改善，比例较2023年提升了5个百分点。”
VOA美国之音 – 美国商会调查：逾半在中国的美企忧关系恶化、创五年新高
“美国商会主席柳青(Alvin Liu)表示：“建立在经贸关系基础上的稳定和建设性关系，不仅对美中两国繁荣至关重要，对于确保全球经济稳定方面也至关重要。”
联合早报 – 担心中美关系进一步恶化美企比例达五年来最高
“中国美国商会在去年10月至11月期间对368家会员企业进行了这项调查，部分调查是在特朗普去年11月5日赢得总统选举之后进行。特朗普在竞选期间曾威胁将对中国商品征收60%的关税。”
中时新闻网 – 在陆美商 逾半忧美中关系恶化
“据港媒引述中国美国商会（AmCham China）最新年度调查显示，51％受访的在华美国企业担心美中关系进一步恶化，比例为5年来最高。商会表示，地缘政治紧张局势、政策不确定性、以及贸易争端，是在华美国企业的主要担忧。”
环球网] 英媒 – 调查显示，在华美企期盼中美关系稳定
“中国美国商会此次年度调查共覆盖368家会员单位，调查时间为去年10月至11月间。调查发现，在华美企最担心的问题包括地缘政治紧张局势、政策上的不确定性以及贸易纠纷等。尽管如此，仍然有近半数接受调查的美企表示，中国是全球排名前三的投资重点对象，这一比例与去年发布的年度调查结果基本持平。”
“本次调查在2024年10月21日至11月15日期间面向中国美国商会会员企业进行，收到有效回复368份。报告显示，48%的在华美企把中国视为全球前三大投资目的地之一，较2023年下降2个百分点。53%的美企计划2025年增加投资，较2024年增加1个百分点，41%投资不变，计划减少投资的仅有6%。美企认为中国的投资环境有所改善，延续了2023年以来的趋势。其中，33%的美国企业认为投资环境有所改善，较2023年增加5个百分点，认为有所恶化的则减少7个百分点。认为外资企业在中国的受欢迎程度增加或不变的美企比例上升了7个百分点。”