GP: American flag and Chinese flag
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ONE Recent survey of Chinese businesses in the US found that the majority remained optimistic about the market over the long term despite growing concerns about US-China relations and the broader business environment.
The annual survey conducted by the General Chamber of Commerce of China in the US shows that nearly 60% of companies aim to maintain a stable level of investment and about 30% plan to boost this level of investment.
“Notable levels of long-term optimism persist, with a majority expressing positive expectations for future revenues,” CGCC said, adding that the survey reflected “a sense of optimism.” Praise, determination and resilience are commendable.”
The survey was conducted in April and May this year, polling nearly 100 Chinese companies across various industries on their performance and outlook.
Report says Chinese companies remain committed to the US market despite growing negative sentiment about the overall business environment amid rising trade tensions between the world’s two largest economies .
More than 60% of survey participants see the business environment worsening in the US. Meanwhile, the proportion concerned about “the impasse in the political and cultural relationship of China-US bilateral relations” increased to 93% from 81% a year ago.
Over the past year, the Biden administration has increased restrictions on Chinese businesses, Review of some industries dominated by Chinanew order sanctions against many Chinese companies and goods and try to speak frankly block Chinese ownership of certain companies and platforms.
In the survey, more than 65% of respondents identified the “complexity and ambiguity” of US regulatory and sanctions policies against Chinese companies as the main challenge in building trade. branding and marketing in the United States.
According to 59% of respondents, “Widespread anti-China sentiment in American public opinion” ranked as the second biggest marketing and branding challenge.
“These [results] highlights the complex policy environment and hostile public sentiment impacted by ongoing US-China trade tensions,” the report said.
The survey said the challenging market environment had widely affected the profit levels of Chinese companies, with companies facing a “significant performance decline” last year compared to the previous year. similar to 2020 during the coronavirus pandemic.
Many companies reported revenue declines, especially those with significant declines of more than 20%. Companies in that category grew from 13% in 2022 to 21% in 2023.
Hu Wei, Chairman of CGCC and President and CEO of Bank of China USA, called on companies from both China and the US to increase coordination to reduce trade conflicts and policy barriers.
“From a longer-term perspective, trade and investment have always been the foundation of US-China relations,” he said, adding that despite various uncertainties, China remains a trading partner third largest and largest importer of the US.
