2023年中国商业报告英文版

103.95103.95103.95103.95103.95103.95103.95103.95103.95103.95103.95103.95166166213THE AMERICAN CHAMBER OF COMMERCE IN SHANGHAI About AmCham Shanghai The AmericanChamber of Commerce in Shanghai(AmCham Shanghai),known as the "Voice of American Business" in China, is one of the largestAmerican Chambers in the Asia Pacific region.Founded in 1915, AmChamShanghai was the third American Chamber established outside the UnitedStates.As a non-profit,non-partisan business organization,AmChamShanghai is committed to the principles of free trade, open markets, privateenterprise and the unrestricted flow of information. AmCham Shanghai’s mission is to enable the success of our members andstrengthen US-China commercial ties through our role as a not-for-profit serviceprovider of high-quality business resources and support, policy advocacy andrelationship-building opportunities. Find us online at www.amcham-shanghai.org Acknowledgements Report Authors:Contributors:Designer: Mickey Zhou at Snap PrintingJessie Niu, Jason Wang, Qinly Wu, Yulia You, Chengqi LiRachel Rapaport, Ian DriscollSurvey partners: Jeff Yuan, Tiger Shan, Jian Li, Jun Jin, Jia Xu, Toby Zhang,Junda Lin, Huchu Xu, Jason Wang, Jingyu Cai, Helen Xu, Sharon Song, Jenny WangAmCham Shanghai would like to thank all survey participants and businessexecutives who provided input for this report. CHAMBER MESSAGE 2023 was supposed to be the year investor confidence and optimism bounced back after years of Covid disruptions and re-strictions. According to our 2023 survey of US businesses in China, however, the rebound has not materialized and businesssentiment has continued to deteriorate. While the details vary by sector, the trends are clear: geopolitical tensions, China’sworsening business environment, and doubts about the country’s economic recovery are depressing optimism and shapinghow companies operate in China. 2022 was a difficult year for businesses. Less than half of the respondents saw 2022 revenue increase over 2021, the lowestpercentage in over 15 years; just 68% of respondents reported being profitable in 2022, the lowest percentage on record;and only 37% saw their operating margins increase over the previous year, the lowest rate since 2008. Optimism continues to fall.Last year’s survey registered record-low levels of optimism among US companies in China. Thisyear, the number dropped even further, with only 52% of companies reporting that they are optimistic about the business out-look in the next five years. Reflecting this, only 17% reported that China was their headquarters’ number one investment desti-nation globally, down from 27% in 2021. Among companies reporting plans to curb investment, 70% blamed uncertainty aboutUS-China tensions, 49% cited slowing growth in China, and 48% expressed concern over future Chinese commercial policies. Companies are shifting supply chains and redirecting investment away from China.Nineteen percent of companieswere considering moving some operations out of China in the next one to three years due to uncertainty about US-Chinarelations (75%), disruptions during Covid (30%), and concerns about supply chain resiliency (29%). The most favored desti-nations for redirected investment were Southeast Asia and the United States. China’s regulatory environment continues to deteriorate.Companies report that the improvement in the business cli-mate has stalled or reversed in recent years. Transparency is a growing challenge in many sectors, and 60% of businessessaid that a more transparent and predictable regulatory environment would boost their confidence. A majority, 56%, saidthere was favoritism toward local companies, nine percentage points higher than in 2020. Those results suggest that Chi-nese policymakers should make the regulatory environment more predictable, curtail procurement practices that favor localbusinesses, and overall ensure national treatment for foreign businesses. The guidelines released by the State Council inAugust on improving the foreign investment environment address some of those concerns, but how they will be implementedover time will determine their effectiveness. Of course, more stable US-China relations would bolster US business confidence in China.This requires joint effortsfrom both governments. Increasing communications between Washington and Beijing in recent months was an importantstep to stabilize the relationship. Ultimately, US businesses would welcome a healthy bilateral relationship that allows mutu-ally beneficial cooperation while effectively managing differences. This year’s survey was conducted between May 31 and June 30, and had 325 responses. Eighty-six percent of the respond-ents have been in China for over 10 years, giving them historical perspective. Published since 1999, the American Chamberof Commerce in Shanghai’s annual “China Business Report” is one of the longest-running surveys of US businesses in Chi-na. The report reflects the opinions of our member comp