In a survey conducted by CGCC (China General Chamber of Commerce), it was found that companies seem optimistic about relations between the United States of America and China. The anticipated that economic cooperation and relations are going in the forward direction. It predicted that there would be a more stable business environment with the US.
Around 183 Chinese companies participated in the survey that worked in the US and belonged to the tech and financial sectors. Interestingly, 39 per cent of the companies are expecting improvement while 25 per cent predict that it would further deteriorate. The positivity was higher compared to 2020, where it was only 33 per cent, and negativity was 30 per cent. Likewise, in 2019, the positivity was 37 per cent, and negativity was 34 per cent.
Notably, around 83 per cent of the participants showed the willingness to invest in the US. Moreover, they are committed to investing and staying there despite the authorities challenging them severely in 2020 following the outbreak of the COVID-19 pandemic. Also, the bilateral relations were on the boiling out at that moment between the world’s biggest economies.
It is noticeable that six years ago, around 60 per cent of executives exhibited their satisfaction with working with the US environment in a survey. This is because they were glad to operate in that surrounding back then. However, in the latest survey, it reduced to a
mere 27 per cent.
Interestingly, almost 65 per cent of companies said that their profits surged by 15 per cent on a year-on-year basis in the US post reinvestment as they operate in the country.
The findings of the survey showcased that Chinese companies are willing to invest in the US and trade there for the long term. They are committed to investing in the environment despite facing several issues lately.
Commenting on the situation, the CEO and president of Bank of China USA Xu Chen said that despite affecting the USA’s grim issues and impacted by the external uncertainties, they responded with acumen during the pandemic’s role of amplifying and transforming the disruptive forces. Xu Chen is also the chairman of CGCC.