China News Service, Shanghai, September 9 (Reporter Jiang Yu) The American Chamber of Commerce in Shanghai and PricewaterhouseCoopers jointly released the "American Chamber of Commerce Shanghai 2020 China Business Report" in Shanghai on the 9th.
According to the report, 78.2% of the interviewed US companies in China achieved profitability in 2019, and nearly half of the interviewed companies indicated that their revenue growth in China in 2019 was higher than their global revenue growth; more than 200 companies have production activities in China Of the companies surveyed, 70.6% said they would not move production out of China.
According to the report, although 49.2% of the surveyed companies expect their revenue in China in 2020 to be lower than the same period in 2019, 32.5% of companies believe that their revenue in China in 2020 will be higher than the same period last year.
According to the survey, the proportion of enterprises that believe that the Chinese government "treats domestic and foreign companies equally" is 43.9%, an increase from 2019 (39.5%).
More than half (52.2%) of manufacturing companies said that foreign-invested companies received the same treatment as domestic companies.
However, in the service industry, nearly two-thirds of the interviewed companies indicated that their policies are biased towards local companies.
51.4% of the interviewed companies recognized the transparency of the existing regulatory environment, an increase of nearly 10 percentage points compared with 2019.
The proportion of companies (40.6%) who believe that "difficulty in obtaining the required licenses" hinders their business development has dropped from last year (56.7%).
"The new crown epidemic caused a severe setback in the Chinese economy at the beginning of 2020, but it is gratifying that the economic recovery, led by some industries, has been very rapid. American companies still see the Chinese consumer market as a huge development opportunity. Recently, China has targeted foreign investment. The opening up of insurance and asset management is also widely welcomed. Now we hope that the commitments made in the "Foreign Investment Law of the People's Republic of China" can be implemented in earnest and create a fairer local competition environment for foreign-funded enterprises." American Chamber of Commerce in Shanghai President Ji Kaiwen (Ker Gibbs) said.
PricewaterhouseCoopers China Operations Consulting Lead Partner Mark Gilbraith believes that American multinational companies need to keep up with the continuous acceleration of change in order to adapt to the current environment and continue to strive for the top.
The survey received responses from 346 American Chamber of Commerce members in Shanghai. The survey covered a series of focus topics such as business performance, business prospects, investment plans, operational challenges, staff size, economic and trade policies and tariff levies.
(Finish)