(Yicai Global) April 27 -- More US companies are optimistic about the prospects of doing business in China over the next two years, according to the findings of a new survey by the American Chamber of Commerce in China.
Fifty-nine percent of the 109 US firms that responded to the flash survey carried out between April 18 and 20 had a positive outlook on China’s economic recovery, up from 33 percent in the 2023 China Business Climate Survey Report, for which data was collected last October and November and in February.
Forty-eight percent of the respondents said their industry market growth would likely increase to some extent. Twenty percent of companies in the consumer sector expect a gain of at least 20 percent this year, versus 4 percent, 3 percent, and 5 percent for those in research and innovation, tech and other research and development, and the service sector, respectively.
Seventy-three percent of the businesses polled have no plans to move their supply chains out of China, the survey showed. The other 27 percent indicated that they had re-prioritized other countries.
Forty percent said they had not changed their short-to-medium term investment plans for China, while 24 percent indicated that they intend to increase investment in the country between this year and 2025.
More than half of the companies said their foreign staff wanted to relocate or return to China. Meanwhile, 44 percent are concerned about the lack of direct international flights to the country.
Forty-three percent of the respondents said their global or regional executives had visited China since last December, while 31 percent noted that their bosses will do so in the upcoming months.
Foreign trade between the United States and China reached USD690 billion last year, versus USD658 billion the year before, according to AmCham China’s data.
Editors: Shi Yi, Futura Costaglione