US firms optimistic about growth opportunities

A majority of the US companies in China remained profitable last year despite trade friction between Beijing and Washington, and are committed to staying in the market that is too big to fail, a new survey has said.

About 92 percent of the 346 companies polled by the American Chamber of Commerce in Shanghai said they will remain in the Chinese market, according to the China Business Report 2020 released on Wednesday together with consultancy PwC.

Of the over 200 respondents that own or outsource manufacturing operations in China, only 3.7 percent said they are moving some production out of China to the United States, despite concerns about geopolitical tensions, tariffs or supply chain weakness due to the COVID-19 pandemic.