U.S. companies with China operations look to the Asian giant for growth

There were companies leaving China, or laying off staff, but the sense is this trend is weakening, Cheng told CNBC last week. He is the vice-chair of the Shanghai association for overseas Chinese business and a representative to the national-level advisory body called the Chinese People's Political Consultative Conference.Matt Margulies

For a sense of scale, U.S. multinationals' majority-owned affiliates in China brought in sales of $392.7 billion in 2018, up 4.8% from a year ago, according to the latest available data from the U.S. Bureau of Economic Analysis.

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