Page 13 - 2025 Special Report

5pp decline compared with the previous year. The ·3%的受访企业原计划2024在华进行超过2.5亿
reinvestment trend remains consistent for American 美元再投资，2024年最终落实超过2.5亿美元再投资的
companies, with 57% reporting to have actually 受访企业比例达7%。
reinvested in China, in line with last year’s figures.

·3% of the companies studied had each · 76%的受访企业计划2025年在中国进行再投
budgeted to reinvest US$250 million or more in 资。值得注意的是，74%的美资企业表示2025年有在华
China in 2024, while this year’s findings reveal 再投资计划，该比例相较2023年增长了11个百分点。
that 7% had actually followed through with
reinvestments of this magnitude.
·多数受访企业2025年在华再投资预算少于1000
·76% of the companies studied plan to 万美元，占比达77%。同时，6%的企业未来一年再投资预
reinvest in China in 2025. Notably, 74% of American 算超过2.5亿美元，该比例相较2023年增长了3个百分点。
companies have reinvestment plans for the
upcoming year, representing an 11pp increase.

·会员企业未来三到五年在华利润再投资预算额将
·A sizeable number of the participating
companies have budgeted for reinvestment in 显著增长33.18%，再投资额预计达145.9亿美元，以扩大
China in 2025 under US$10 million, accounting for 现有业务规模并获取更多市场份额。
77% of the total. 6% have allocated over US$250
million for reinvestment plans in the coming year,
up by 3pp. ·59%的受访企业计划在未来三年内扩大其在华
业务。
·It is estimated that member companies have
set aside a total of US$14.59 billion from profits in
China to reinvest over the next three to five years to ·广州连续八年在本调查中荣膺中国首选投资目的
expand existing operations and capture additional 地，紧随其后的是深圳、上海和北京。
market share, a surge of 33.18% compared to the
previous reinvestment figure.
·受访企业在华南地区发展所面临的最大挑战仍
·59% of the companies studied have plans to 是本地竞争激烈，其次是人力资源成本增加和运营成本
expand their operations in China over the coming 增加。
three years.

·Guangzhou has been ranked as the top ·没有任何一家企业选择完全撤出中国市场。91%
investment destination in China for eight consecutive 的受访企业明确表示，尽管中美贸易摩擦仍在持续，他
years, followed by Shenzhen, Shanghai, and Beijing. 们不会因此脱离中国市场，该比例相较2023年上升了5
个百分点。
·Fierce local competition remains the greatest
challenge faced by the companies studied in South
China, followed by rising labor costs and rising ·四分之一的受访企业对中美关系前景持乐观态
operation costs. 度，该比例相较2023年大幅下降了19个百分点。

·Not a single company indicated a complete
withdrawal from the Chinese market. 91% of the ·美国贸易关税和中国贸易关税给企业带来的负
companies studied assert that they will not decouple 面影响均有所缓解。然而，美资企业受到两国贸易关税
from the Chinese market due to the US-China trade 的负面影响最为突出。
tensions, a 5pp increase from 2023.

·One quarter of the companies studied are
bullish about the US-China relations in the coming
year, a significant decrease of 19pp compared to
previous assessments.

·The negative effects of both US and
Chinese tariffs on the companies studied have
been somewhat alleviated. However, American
companies, in particular, have borne the brunt of
negative impacts from the trade tariffs.

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