普華永道：上海美國商會2020年中國商業環境調查(英文版)（72頁）.pdf

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24、40 126476.40 2020 CHINA BUSINESS REPORT THE AMERICAN CHAMBER OF COMMERCE IN SHANGHAI About AmCham Shanghai The American Chamber of Commerce in Shanghai (AmCham Shanghai), known as the Voice of American Business in China, is one of the largest American Chambers in the Asia Pacific region. Founded in

25、1915, AmCham Shanghai was the third American Chamber established outside the United States. As a non-profit, non-partisan business organization, AmCham Shanghai is committed to the principles of free trade, open markets, private enterprise and the unrestricted flow of information. AmCham Shanghais m

26、ission is to enable the success of our members and strengthen U.S.-China commercial ties through our role as a not-for-profit service provider of high-quality business resources and support, policy advocacy and relationship-building opportunities. Find us online at www.amcham-shanghai.org About PwC

27、At PwC, our purpose is to build trust in society and solve important problems. Were a network of firms in 157 countries with more than 284,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at . PwC

28、 refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see for further details. PwC Mainland China and Hong Kong Consulting Services is a leading consult- ing practice focused on creating sustainable value and lasting change for our client

29、s, helping them address their most complex business issues from strategy through execution. With dedicated consultants in Beijing, Shanghai, Hong Kong, Guangzhou and Shenzhen, PwC Mainland China and Hong Kong Consulting Services is part of a global network of firms and serves clients in a variety of

30、 industry sectors across Mainland China and Hong Kong. For more information, please visit our website (for Mainland China), or (for Hong Kong). AmCham Shanghai and PwC would like to thank all survey participants and business executives who provided input for this report. Report Authors: Contributors

31、: Designer: Mickey Zhou at Snap Printing Acknowledgements PwC Consulting Services in China is a leading consulting practice focused on creating sustainable value and lasting change for our clients, helping them address their most complex business issues from strategy through execution. With dedicate

32、d consultants in Beijing, Shanghai, Hong Kong, Guangzhou and Shenzhen, PwC Consulting Services in China is part of a global network of firms and serves clients in a variety of industry sectors across Mainland China and Hong Kong. For more information, please visit our website Iris Fu, Jessie Niu, Ja

33、son Wang, Qinly Wu, Daniel Rechtschaffen Ruoping Chen, Kate Magill, Ian Driscoll AmCham Shanghais mission is to enable the success of our members and strengthen US-China commercial ties through our role as a not-for-profit service provider of high-quality business resources and support, policy advoc

34、acy and relationship-building opportunities. CHAMBER MESSAGE This report is based on our annual China Business Climate Survey, one of the longest running sur- veys of US business in China that began in 1999. The report reflects the opinions and insights of our member companies based on their experie

35、nces doing business in this important market. We are grateful to our survey partner, PwC, for their support, and to our many members who participated in this years survey and contributed their perspectives. This years survey was conducted between June 16 and July 16, 2020, and included responses fro

36、m 346 companies. Questions were designed to measure trends in company performance, invest- ment, headcount, production and sourcing, domestic competition and the impact of COVID-19. We also delved into members reactions to the regulatory environment and whether they were planning production shifts.

37、As you interpret the surveys results, we encourage you to keep in mind two features of its timing. First, it was circulated five months after the US and China signed the Phase One trade agreement, at a time when broader tensions between the two countries seemed to be accelerating. Second, it was cir

38、culated at a time when the coronavirus pandemic appeared to be under control in China but not yet in the United States. We trust that this years report will, like its predecessors, provide valuable information to business leaders and policymakers as they make plans for the coming year during a time

39、of heightened un- certainty. Ker GibbsJeffrey Lehman INTRODUCTION The year began on an optimistic note with the US and China signing a Phase One trade agreement that included provisions intended to address longstanding American grievances around intellectual property protection and forced technology

40、 transfer, and a commitment by China to purchase an additional $200 bil- lion worth of American goods and services over the next two years. Less than a month later, COVID-19 upended all economic forecasts, impacting company performance across a multitude of sectors, in some cases severely. Fortunate

41、ly, Chinas recovery has been swift, and a third of our members are still projecting better revenues than in 2019. But now a wider chill in US-China relations obscures the outlook and threatens to overturn the goodwill and progress achieved by the Phase One agreement. These conflicting forces mean th

42、at the data in this year s report is mixed. Pessimism about the five-year business outlook was close to last years all-time high, and fewer com- panies are increasing investment compared to last year. Conversely, the number of companies delaying investment because of the tariffs and trade tensions f

43、ell compared to last year. Few companies are off- shoring any part of their production, and even fewer are moving more than 20 percent of their production. Thirty-two percent of respondents said that a souring of the US-China relationship is impacting their ability to retain staff in China, yet 92 p

44、ercent were committed to remaining in the country. Chinas relative importance in companies global investment plans fell across industries. Several factors il- luminated by the survey may be contributing to that decline, including Chinas strengthening environmental standards, uncertainty about bilate

45、ral relations, and supply chain concerns elevated by the pandemic. Foreign companies have long called for a leveling of the playing field in China, and this year they report some continued progress. Fewer members reported difficulty in obtaining required licenses, and more than half now say that the

46、 regulatory environment is transparent, 9.5 percentage points more than last year. The number of companies reporting that they are hampered by inefficient government bureaucracy also fell. Nonetheless, the findings still show room for improvement. A top concern continues to be a lack of IP protectio

47、n and enforcement, as over half of respondents said it hinders their businesses. More than two-thirds of companies in the services sector believe government policy is biased towards local companies. Internet restrictions also continue to hinder operations for a ma- jority of Chamber members. The Pha

48、se One trade agreement includes new commitments in the intellectual property domain, and one third of responding members hoped that Chinas commitment to enforcing legal protection of intellectual property would benefit their businesses. EXECUTIVE SUMMARY Profits: Despite the trade war, 78.2% of comp

49、anies reported profits in 2019, marginally ahead of recent years. Companies in logistics, transportation, warehousing and distribution were all profitable, so too were those in healthcare and hospital services and hospitality and leisure. But nearly a quarter of businesses in banking, finance and insurance were loss-making. Revenue growth estimates: 32.5% of companies projected 2020 revenues greater than in 2019, an 18 percentage point drop from last year. Especially pessimistic was the hospitality and leisure industry, with some firms forecasting revenue falls steepe