A recent survey by a Chinese business group in the United States shows that Chinese companies are still interested in doing business in the United States, even if things are difficult. Most of the companies surveyed (nearly 60%) want to continue investing the same amount of money in the United States, and some (30%) even want to invest more.
The survey also found that many Chinese companies are concerned about the U.S.-China relationship and the overall health of the U.S. economy. More than 60% of respondents believe the economic environment in the United States is worsening. There is also much more concern (93% compared to 81% last year) that the United States and China are unable to work well together.
The US government has recently made it more difficult for Chinese companies to do business in the United States. They have more closely monitored some Chinese industries, imposing sanctions on some Chinese companies and products and even trying to prevent Chinese companies from buying some US assets.
The survey found that the biggest challenges for Chinese companies in the United States are confusion over U.S. rules and sanctions and the negative feelings many Americans have toward China. Over 65% of respondents believe that US rules and sanctions are the biggest problem, while 59% believe that negative feelings are the second biggest problem.
The survey also found that many Chinese companies are earning less than in the past. In fact, last year saw a “significant decline in performance,” similar to what happened in 2020 during the pandemic. More companies reported revenue declines in 2023 than in 2022, with some companies reporting a larger decline.
The head of the Chinese business group said that both Chinese and US businesses must work together to reduce trade tensions and political problems. He said that trade and investment have always been important to both the United States and China, and that China is still a very important trading partner for the United States.
