Earlier this month, The US-China Business Council (USCBC) released its annual survey results about China’s business environment. The survey is conducted annually amongst USCBC’s member companies to gauge the business climate in China and assess the top challenges of doing business there. According to the survey data, 94 percent of respondents rank China as either their top global market priority or among their top five priorities.
However, the report reveals that although US companies continue to experience sales growth and profitability in China, their optimism is tempered based on rising costs, increased competition, and persistent market access and regulatory barriers.
For example, 90 percent of the respondents indicated they are optimistic or somewhat optimistic about business prospects in China over the next five years, but 45 percent said they are less optimistic than three years ago. Also, 17 percent of the companies surveyed said they reduced or stopped planned investments in China in the past year, and 50 percent of those cited market access restrictions as the reason.
The data also identifies the top ten challenges faced when doing business in China, such as talent recruitment and retention and intellectual property rights enforcement.
To read the full report, please click on the following link:Share