83% of Chinese companies remain committed to investing in the United States, according to the General Chamber of Commerce of China
According to the survey results, Chinese companies’ business operations and investments in the United States were severely compromised in 2020 due to disruption and uncertainties related to the pandemic in the United States.China reports. Despite the uncertainties, 65% of the companies surveyed said they have reinvested their profits in their operations in the United States, a 15% increase from last year. Chinese companies continue to view the United States as an investment priority and remain firmly committed to the market for the long term, according to the survey findings.
Compared to previous years, surveyed companies expressed greater optimism about the future direction of bilateral relations and economic cooperation, in anticipation of a more predictable and stable US business environment. More companies (39%) expect improvements than those (25%) expecting relationships to deteriorate, up from 33% and 30% in 2020 and 37% and 34% in 2019, respectively. Executives interviewed stressed that their companies actively monitor bilateral relations and seek to play a role in building strong and positive relationships, for example by continually investing in improving their brands and raising awareness.
Xu Chen, Chairman of CGCC, Chairman and CEO of Bank of China United States, commented: “While tensions in the United States-China in recent years, along with the negative effects of COVID-19, have impacted our members’ opinion of the business environment in the United States and affected their confidence, it is exciting to see the clear optimism and the resilience of Chinese companies in this year’s poll. Our members have generally responded well to the dual role of the pandemic as an accelerator of transformation and amplifier of disruptive forces. “
Shau Zhang, EY US Partner and Americas China Overseas Investment Network Leader, added, “It is clear from the survey that these companies are cautiously optimistic about the overall US business environment. In order to support growth in the U.S. market, many of these organizations have indicated that they prioritize efforts to strengthen their compliance to navigate the ever-changing legal and regulatory environment in the U.S., and continue to support the local communities in which they operate. “
As companies in the United States and China still have deep business interests to invest in their respective economies, CGCC remains committed to leading more constructive engagement and dialogues, building relationships and achieving great synergies between companies. United States and China to encourage better understanding and cooperation on both sides.
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Founded in 2005, General Chamber of China Trade – United States (“CGCC”) has been recognized as the largest and most influential non-profit organization representing Chinese businesses in the United States. As an independent, non-partisan, nongovernmental chamber of commerce, CGCC provides a wide range of programs, services and resources to over a thousand multinational members across the United States, with a mission to create value , generate economic growth and improve cooperation between the American and Chinese business communities.
About the CGCC Foundation
Created in 2014, the CGCC Foundation is a tax-exempt 501 (c) (3) organization. The mission of the CGCC Foundation is to deepen mutual understanding and cooperation between the United States and China through research, public charity, and engagement in economic, cultural and social exchanges.
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SOURCE General Chamber of China Trade – United States