中国商业环境调2025（英）_38页_885kb

报告摘要

US-China Business Council’s annual survey highlights growing challenges for American companies in China, with geopolitical tensions, tariffs, and export controls top concerns.
Overcapacity, industrial policies favoring Chinese firms, and restrictive data/localization regulations are cited as key barriers to profitability and market access.
Despite these challenges, nearly 80% of respondents plan to maintain or expand investments in China to serve domestic markets, while 48% also cite enhancing global competitiveness as a key objective.

US-China Relations & Tariffs (8–10% of votes): renewed trade friction intensified concerns; tariffs rose from 8th to 2nd place.
Export Controls & Investment Restrictions (40% of companies affected): negatively impacted lost-sales and supply chains.
Domestic Policy Issues: Industrial subsidies, procurement barriers, and overcapacity (now a top-10 issue since 2016) suppressed market opportunities.

40% plan to relocate supply chains out of China, primarily to Southeast Asia (71%), India (41%), and Mexico (41%).
Less than half (42%) are optimistic about future business in China due to policy uncertainty, deflation, and higher costs.

Deflation pressures: 81% of companies impacted by overcapacity reported falling prices in their sector.
Lost market share: Exports to non-US firms due to tariffs rose 21% YoY (to 27% of companies).

Premium products/service demand (58% cite as top opportunity).
Leveraging local supply chains for manufacturing, testing, and distribution (37%).

Companies prioritize tariff reduction (75% in negotiations), followed by easing export controls, improving IP protection, and market access.

Survey Details: 130 companies; respondents have operated in China for >5 years (82%) and >$5B revenue (5%).
Data Sources: Challenges ranked using weighted analysis; trends analyzed over 10 years.

Source: US-China Business Council Annual Member Survey 2025.

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