Chinese Business Performance in the U.S. Slightly Recovers But Confidence Shaken Amid Growing Uncertainties of U.S.-China Relations in A Stalemate

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China General Chamber of Commerce - USA

Jul 05, 2022, 13:45 ET

China General Chamber of Commerce - USA Releases its 9th Business Survey Report on Chinese Enterprises in the U.S.

NEW YORK, July 5, 2022 /PRNewswire/ -- China General Chamber of Commerce - USA (CGCC) and CGCC Foundation released their 2022 Annual Business Survey Report on Chinese Enterprises in the U.S. The launch event convened nearly 200 guests from the U.S.-China business communities at Hyatt Regency Washington on Capitol Hill in Washington, D.C.

In its ninth consecutive year, the report details the experiences and sentiments of Chinese companies in the U.S., based on responses from 111 companies and a select number of executive interviews. In 2021, company performances have stabilized and slowly recovered from disruptions since the pandemic. Company satisfaction of the U.S. investment and business environment has rebounded, but the results vary in sectors. While companies continue to be optimistic about their opportunities in the U.S., that optimism is in decline due to sustained trade disruptions, an increasingly uncertain regulatory environment, difficulty attracting and retaining talent, and the U.S.-China relationship in a stalemate. More companies reported dimmed expectations of the future U.S.-China bilateral and economic relationship. The 2022 survey also features insights into areas of Legal and Compliance and Brand and Trust.

The launch event opened with remarks from CGCC Vice-Chair, Chair of ICBC US Region Management Committee Jianyu ZHANG. "As the largest independent, non-partisan, non-governmental chamber of commerce connecting American and Chinese enterprises in the U.S., we hope this survey will continue to act as a valuable reference for both the business community and policymakers in the U.S. and China," remarked Zhang.

Abby LI, Director of Corporate Communication and Research at CGCC shared highlights from the report and various key findings. "An already challenging situation continues to worsen for many Chinese companies here in the U.S. Most respondents to this survey had suffered some sort of impact from the recent tumultuous circumstances," said Li.

The launch event concluded with a panel discussion featuring Linhua GUAN from Surge Energy America, James SHIH from SEMCORP Group, and Paul Nash from ICBC New York Branch and Former Senior Deputy Comptroller of the OCC. Moderated by Lu CAO, Managing Director in the Corporate and Investment Bank at J.P. Morgan, the panel delved deeper into some of the survey's key themes and shared their experiences in leading roles at Chinese companies in the U.S., including challenges faced, and advice for Chinese companies looking to expand in the U.S.

Click here to read the full survey report.

SOURCE China General Chamber of Commerce - USA