Chinese firms fear of less welcoming US business environment due to trade frictions - CGCC survey
Xinhua news agency, China’s state-run news agency, reported a survey conducted by the China General Chamber of Commerce - USA (CGCC) of the Chinese business firms operating in the US.
Key Findings:
“Chinese companies doing business in the United States have the apparent fear that the country's business environment becomes "less welcoming" as a result of trade frictions between the two sides.
The China General Chamber of Commerce - USA (CGCC) said in its 2019 Annual Business Survey Report that increasingly protectionist policies in the United States have resulted in a trade war with, and declining investments from, China.
CGCC Chairman Chen Xu said: "The fear that the trade war creates a less-welcoming business environment for Chinese companies is apparent. This environment's uncertainty shakes our members' confidence and discourages them from making further investments in the U.S.".
Some 47 percent of the companies surveyed said their revenues in 2018 remained the same in comparison with 2017, 20 percent saw revenue increase by 20 percent, and 7 percent suffered revenue loss of more than 20 percent.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
