Page 13 - 2020 Special Report on the State of Business in South China

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Takeaways ?抽?瑕??

When we began to conduct this study last ???娲惧????锛?2019骞?10??28?ヨ?12??15
October, the United States and China ?ワ?锛????㈢?涓?袱?借?琛?????璐ㄦ?х?绗?
were involved in intense negotiations for the first 涓??舵????璋??锛????????缁???ワ?2019骞?12??
phase of the trade agreement; a preliminary deal 15?ワ?锛??涓???瑰凡灏辩?涓??舵?缁?锤??????杈炬?涓?
was announced by both countries on December ?淬???姝わ?涓轰?杩??姝ヤ?瑙ｇ?涓?袱?界?涓??舵?缁?锤??
13, 2019, two days before we closed our data col- 璁??浼????奖???浠?2019骞?12??23?ヨ?2020骞?1??
lection and began data analysis. In order to deter- 6?ユ??达???滑灏卞?涓??浜?????棰??宸叉?浜ゆ????
mine the announcement?? impact on the compa- ?风?浼?????杩?????锛?????????寸???????
nies participating in our study, we reached out to a ????版???
large sampling of participants between December
23, 2019 to January 6, 2020. ??2018骞达?缇?腑?崇郴璺??璧蜂?锛??澶??浼?????
???涓??绋?害??奖????2018骞?10??????缇?????涓?
While the bilateral relations between the Unit- 璇?及璐告??崇?瀵瑰?浼??????插?锛??涓?娆″???????
ed State and China has gone through many ups 涓?锤???绋??褰卞??瑰??ュ????姝ゅ?锛???????画璺?
and downs since 2018, many AmCham South Chi- 韪?锤??悍浜??浼???ㄥ??ヨ???奖?????勾搴???瑰?
na members have withstood the impact to various ?ュ?涔??渚????
degrees. To evaluate the impact of combined tar-
iffs on our members, our first study of the subject, ???????抽?瑕??濡??锛?
the Special Report on the Impact of US and Chi-
nese Tariffs was published in October 2018; since ???瓒充腑?斤????涓??????舵?缁?ぇ澶???ㄥ???
then we have continued to track the impact on 杩??涓??棣??绛????
companies with established operations in China in
varying ways, and this report is another in a series 绾?袱???璁夸?涓??2019骞寸缉??????锛??澶ч?
of studies to come. ???璁夸?涓??2020骞存?灞?汉?????俊蹇???

Key takeaways of this report are as below: 澶ч????涓???ㄥ??ユ?????╂??电?瀵圭ǔ瀹????
?舵?澶??璧??涓??????舵??????锛???跺??扮???
路??n China, for China?? is still the primary ???姣??浠??涓??濂姐???浜??瀹????????涓???堕?
strategy for most companies operating in China. 璁″??扮??╃??堕?姣?互寰????涓???裤??

路Although approximately one fifth of studied 浼?????瑙??缁??寰?骞存????寮便???璁跨?缇??浼?
companies reduced their employee headcount to 涓???跺??哄??挎????浣?????渚??璐瑰?????＄?
various degrees in 2019, most of the respondents ???浼??瀵逛腑?藉??哄??垮???????濂姐??
seemed to be confident in increasing headcounts
in 2020. 涓??浣?负?ㄧ?绗?????????扮???????浣????
??ぇ?ㄥ????浼????????璧??涓???????腑?戒?
路Relatively stable revenue, profitability, and 涓哄??????骇?哄????寮???ㄤ?????
return on investments in China were reported by
most of the studied companies. While more US 2019骞翠?涓???????????澧??绋冲? ???璁?
companies witnessed decline in revenues from 浼????2019骞村???????瀹??浣??5000涓?????
China than their counterparts, their profitability 涓??棰?害??????????剁?璧??涓??涓??甯??澧??
was better than the others. For those not yet ??????涓??锛??浠?????涔?????璧??璁夸?涓??
profitable, the estimated length of time for reaching 2019骞村??颁?瓒??5000涓????互涓??楂?????璧???
profitability was longer than previous studies.

路Declining optimism about China?? market
prospects can be easily found in this year??
research. While US companies shared relatively low
expectations about their business outlook in China,
those providing consumption products and services
showed rising optimism in China?? market growth.

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