Most companies say they are against the tit-for-tat war between the world’s two largest economies
More than 60 per cent of US companies operating in China are bullish about their prospects in the mainland as the country’s digitalisation drive deepens, making doing business easier and more cost-effective, according to American Chamber of Commerce in Shanghai.
Most of the firms are also against the tit-for-tat trade war between China and the US, with some of them continuing to seek Chinese authorities’ approval to expand their investment in the world’s second-largest economy.
Based on a survey of more than 400 American companies, the business lobby group said American businesses “continue to perform well in China,” shrugging off the gloomy sentiment brought about by rising trade frictions between the two countries.
About 62 per cent of respondents expected to increase investment in China this year, up from 53 per cent businesses that added investment to the market in 2017.
“Uncertainty about US-China trade policy had a limited impact on investment and more companies are producing goods solely for the Chinese market,” AmCham Shanghai said in its 2018 China Business Report.
In Beijing, China’s Ministry of Commerce spokesman Gao Feng told a media briefing on Thursday that the mainland will continue to attract American investors.
“We hope US firms can do more to lobby the US government, and work hard to safeguard their own interest,” he said.
