With China being a top market priority for nearly two-thirds of the chamber’s member companies, Colm Rafferty, the chamber’s chairman, said its members believe that a decoupling of the US and China economies is in neither country’s economic interest.
On Tuesday, the American Chamber of Commerce (AmCham) in China said pandemic restrictions were aggravating already tense China-U. S. relations. “The COVID-19 pandemic aggravated this deterioration, deepening mistrust between the two countries and reinforcing the focus on supply chain security, reshoring, and domestic manufacturing,” it said in a white paper.
US companies remain committed to Chinese market despite their diplomatic tensions, with 83 percent of the firms surveyed not considering relocating manufacturing or sourcing outside of China, according to an annual white paper released by the American Chamber of Commerce in China (AmCham China) on Tuesday.
“In the past, what has made China attractive to our member companies has been the country’s clear long-term strategic development goals, significant market opportunity, and a highly supportive and predictable business environment,” Rafferty said. “But, today, our members feel that the business environment has become a lot less predictable, largely due to the pandemic and its related restrictions. More worryingly, members don’t see any light at the end of the tunnel.”
The American Chamber of Commerce in China President Michael Hart discusses the latest findings of the AmCham China White Paper which lays out a number of policy recommendations for the Chinese and US governments. Hart speaks to Haslinda Amin and Rishaad Salamat on “Bloomberg Markets Asia”.
“The Covid lockdowns this year and the restrictions over the past two years are going to mean that three, four, five years from now, we will most likely see investment decline,” Michael Hart, president of the American Chamber of Commerce in China, said Tuesday in Beijing.
中国美国商会 周一公布在4月底和5月初对其121个成员进行的调查结果，该商会表示，因应最近的新冠疫情，超过一半的成员推迟或减少在中国的投资，58%的成员预计今年的收入将比预期的要弱。近60%的受访成员表示仍未满负荷运转，理由包括人员短缺和物流困难。
人员及供应链挑战为当前在华美企的最大担忧，决定减少、推迟在华投资计划的美国企业均占到26%. 中国美国商会5月9日发布的一项调查显示，近六成受访在华美资企业已下调2022年度营收预期，超过一半的企业表示在华投资计划被推迟或已计划减少投资。
American businesses in China are slashing investments and lowering revenue projections as coronavirus lockdowns hit operations and supply chains, a survey shows. More than half of the 121 companies polled by the American Chamber of Commerce in China have either reduced or delayed investment in the country, while nearly 60 percent of them lowered their income forecasts for this year following the latest outbreaks, according to a statement.
In a survey of 121 of its members conducted in late April and early May that was published Monday, the American Chamber of Commerce in China said more than half have delayed or reduced investment in China in response to the latest Covid-19 outbreaks and 58% expect revenue this year to be weaker than forecast.