Many US companies still find the Chinese market an attractive investment destination, with a large majority of them saying they have no plans to relocate operations elsewhere, though increasing rivalry between the world’s two largest economies casts shadows over bilateral ties, a survey by the American Chamber of Commerce in China (AmCham China) revealed Wednesday.
U.S. businesses operating in China are increasingly pessimistic about their prospects in the world’s second-largest economy, according to a survey released Wednesday by the American Chamber of Commerce in China.
American Chamber of Commerce in China survey shows 45 percent of firms ranked China as a top-three investment priority in their near-term investment plans. This marks a significant shift from 60 percent last year amid growing concerns over China’s policy uncertainties and bleak bilateral ties with the United States.
AmCham survey shows companies’ outlook for China is negative.
More than half of US firms say won’t be profitable in 2022.
U.S. companies are also more pessimistic about their financial outlook there, with more than half saying they didn’t turn a profit last year and more than a third saying their China revenue fell from a year earlier, according to the survey conducted by the American Chamber of Commerce in China.
China will continue to be a very important market for a whole host of sectors, especially when it comes to advanced manufacturing, says Michael Hart, the president of the American Chamber of Commerce in China.
“There’s a lot of concerns about supply chains, and there’s a lot of concerns about United States-China relations. When you can have people come and have face-to-face meetings, people-to-people exchanges, that will really help,” said Mr Michael Hart, President of the American Chamber of Commerce in China.
Nicholas Burns, the US ambassador to China, told the American Chamber of Commerce in China early this month that both countries have a joint interest – and global responsibility – to work together on transnational challenges such as climate change.