American companies operating in China are more optimistic about the business outlook in the country than at any point since the start of the US-China trade war in 2018, a survey released by the American Chamber of Commerce in Shanghai (AmCham Shanghai) found, reports Caixin. The China Business Survey also found that over 70% of the surveyed manufacturers had no plans to move supply chains out of China.
The survey of 338 member companies was conducted between June 15 and July 15 with the help of consultancy PwC China, AmCham Shanghai said. It questioned companies on factors such as company performance, investment, domestic competition and mobility.
More than three-quarters of the US companies surveyed said they’re optimistic or slightly optimistic about the business outlook in China for the next five years, a near return to the 80% figure recorded annually from 2015 to 2018. Only 9.8% of companies were pessimistic, compared with around 20% at the height of the trade war in 2019 and 2020.