Profitability Down Across the Board, But Business Outlook for US Firms in China Remains Positive
2020 was a challenging year for most foreign businesses operating in China, battered by US-China tensions and the global pandemic, according to a new survey released by the American Chamber of Commerce in China (“AmCham China”). Despite significant challenges, though, the outlook among foreign businesses 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.