WASHINGTON - US businesses are not leaving the Chinese market despite"an unprecedented downturn" in US-China relations during the Covid-19 pandemic, according to an annual member survey released on Tuesday by the US-China Business Council.
Up to 83 per cent of companies counted China as either the top or among the top five priorities for their company's global strategy, according to the survey, which was conducted in late May and June among more than 100 companies that are members of the US-China Business Council. As a result of this long-term confidence in the Chinese market, 87 per cent of companies reported no plans to move production out of China, the survey noted, adding that some companies are seeking potential new investment.
"US-China trade and investment supports about 2.6 million American jobs," said Council President Craig Allen."We need to sustain and grow those jobs in future years, while finding ways to reduce conflict in other areas of the relationship."