上海美国商会2021年中国商业环境调查_84页_2mb

2021 AmCham Shanghai China Business Climate Report Summary

Core Content

The 2021 AmCham Shanghai China Business Climate Report provides an overview of the performance, outlook, and investment trends of US multinational corporations (MNCs) operating in China. It highlights the resilience of US businesses in the face of the pandemic and ongoing US-China tensions, while also identifying key challenges and opportunities.

Main Points

• AmCham Shanghai is a leading American business organization in China, founded in 1915, and is committed to promoting free trade, open markets, and US-China commercial ties.
• PwC provided support for the survey, offering insights into business performance and strategy.
• The survey was conducted between June 15 and July 15, 2021, with 338 companies participating.

Key Findings

Business Performance

• 2020 profits were surprisingly strong, with 77.1% of companies reporting profits, similar to previous years but higher than many expectations.
• Retail sector saw a drop in profitability to 70%, compared to 85.4% in 2019, while logistics, transportation, warehousing and distribution companies experienced a significant decline, with 25% losing money.
• Chemicals and non-consumer electronics industries were fully profitable, while pharmaceuticals, medical devices and life sciences had 87% profitability.
• Margins were mixed, with 21.5% of companies seeing an increase of 11% or more, and 30.2% reporting lower margins. The logistics sector was particularly affected.

Business Forecast and Investment

• 2021 revenue growth is expected to rebound, with 82.2% of companies anticipating higher revenues than in 2020, reflecting a return to pre-trade war growth levels.
• Five-year optimism rebounded to 77.9%, similar to the 2015-2018 levels, with the retail sector being the most optimistic at 85%.
• Investment in China increased in 2021, with 59.5% of companies reporting higher investment than in 2020, up 30.9 percentage points from the previous year.
• Major industries such as pharmaceuticals, medical devices and life sciences, automotive, and industrial manufacturers showed the most confidence in growth.
• Investment redirection was observed, with Southeast Asia, Mexico, and the Indian subcontinent being the top destinations. Only 15 companies planned to send investment back to the US.

ESG and Digital Investment

• ESG priorities were primarily focused on human elements such as diversity and inclusion (48.5%), training and development (48.5%), and business ethics/governance (43.2%).
• Digital technology investment increased significantly, with 69.8% of companies increasing their investment since the pandemic, up from 56.1% in 2020.
• Automation and CRM systems were among the top areas for digital investment, with 58.3% of logistics companies investing in automation.

Talent and Mobility

• Retaining local talent has become more challenging, with 54.9% of companies citing local compensation as a factor.
• Mobility issues due to pandemic restrictions impacted HR and operations, with 53.4% of companies affected in attracting and retaining foreign talent.

Regulatory Environment

• Regulatory transparency was reported by 46.7% of companies in 2021, down from 51.4% in 2020.
• Despite some concerns, the regulatory environment was not seen as a major hindrance to business operations.

US-China Tensions

• US-China trade tensions remain a concern, with 47.1% of companies citing uncertainty about trade policy as a reason for reduced investment.
• There is a call for reciprocity in trade policies, particularly in relation to intellectual property rights and fair treatment of foreign businesses.
• The report emphasizes the importance of continued commercial ties between the US and China, highlighting the benefits of the relationship over the past 40 years.

Conclusion

The report underscores the resilience and optimism of US MNCs in China despite challenges such as the pandemic and trade tensions. It highlights the growth potential of the Chinese market and the need for a more welcoming business environment. The focus on digital transformation and ESG initiatives reflects the evolving priorities of companies operating in China.