上海美国商会-区块链-下一个破坏者（英文）-2018.7-32页-7mb

2018 China Business Report Summary

Core Content

The 2018 China Business Report by the American Chamber of Commerce in Shanghai (AmCham Shanghai) provides an in-depth analysis of the business environment for U.S. companies in China, based on a survey of 434 member companies. The report highlights key performance metrics, regulatory challenges, and strategic considerations for U.S. businesses operating in China.

Key Findings

• Profitability: In 2017, 76.5% of companies were profitable, slightly lower than 2016's 76.9%. Profitability was higher in manufacturing (83%) and retail (81%) compared to the services sector (65%).
• Revenue Growth: 7.6% more companies reported significantly higher revenue growth in China compared to their global revenue growth, with 48% seeing Made in China 2025 as a revenue opportunity.
• Five-Year Outlook: 80% of companies remained optimistic about the next five years, though this is lower than the 90% seen in previous years.
• Investment Growth: Investment growth remained steady, with 103.95% of companies reporting positive trends.
• Regulatory Challenges:
  • 60% of companies reported a lack of transparency in the regulatory environment.
  • 61.6% cited lack of IP protection and enforcement as a major hindrance.
  • 59.5% mentioned obtaining required licenses as a challenge.
  • 52% expressed concerns about data security and commercial secrets.
• Opinion on Trade Policies:
  • 50% of companies believe Chinese government policies favor local companies.
  • 76.5% of companies oppose using tariffs to resolve trade disputes.
  • 29% believe investment reciprocity is a more effective trade tool.

Main Viewpoints

• China's Business Environment: Despite some challenges, U.S. companies in China continue to perform well, with most being profitable and growing revenue. However, they face ongoing obstacles such as lack of transparency, IP protection issues, and data localization laws.
• Talent Competition: Companies report intense competition for talent, particularly in sales and marketing, senior management, and research & development.
• Global Trade Concerns: The report notes that forced technology transfer remains a contentious issue, especially in sectors like aerospace. However, many U.S. companies in China are not only investing but also creating jobs in the U.S., with 20% of respondents indicating that their operations in China have positively impacted U.S. employment and production.
• Policy Implications: The findings suggest that U.S. policymakers should consider the divergent views of businesses operating in China, which may differ from the general perception of U.S.-China trade relations.

Key Information

• The report is based on a bi-annual survey conducted between April 10 and May 10, 2018.
• It includes insights from industry trends, regulatory analysis, and policy discussions.
• The China Business Report serves as a feedback mechanism for Chinese governments and a reference for U.S. policymakers.

Blockchain: The Next Disruptor?

Overview

Blockchain is highlighted as a potential disruptor in traditional business models, with its decentralized, transparent, and secure nature offering new opportunities across various sectors.

Key Applications

• Supply Chain Management: Companies like JD.com and Walmart are using blockchain to track product origins and ensure food safety.
• Smart Contracts: These automated contracts can be used to execute financial agreements efficiently, reducing the need for intermediaries.
• Public Sector Use: A district in Guangzhou is using blockchain with wearable technology to track ex-offenders and assess creditworthiness.

Challenges

• Lack of Clarity: Many companies are still unclear on how to implement blockchain, with 35% citing management indecision and 19% pointing to lack of standards.
• Regulatory Hurdles: Data localization laws and interoperability issues between different blockchain platforms remain significant barriers.
• Public Perception: While blockchain is still a new concept, its potential for transparency and trust-building is seen as a key advantage in China.

Future Outlook

• Adoption Growth: As blockchain-as-a-service (BaaS) platforms become more available, costs will decrease, making the technology more accessible.
• Regulatory Normalization: PwC predicts that once policy normalization is achieved, a huge number of enterprises will adopt blockchain.
• Government Involvement: China is actively developing national standards and interoperability solutions, with Shenzhen piloting blockchain-based digital invoices.

China's Belt and Road Initiative (BRI)

Overview

The BRI is a major infrastructure initiative launched by China in 2013, with significant investment and development across Asia and beyond.

Key Drivers

• Infrastructure Demand: There is a high demand for infrastructure development, driven by population growth and GDP expansion.
• Geopolitical Influence: While often viewed as a geopolitical tool, the BRI is primarily a business initiative focused on projecting economic influence.

Opportunities for U.S. Companies

• Infrastructure Projects: The BRI offers opportunities for U.S. firms to participate in large-scale infrastructure projects.
• Market Access: The initiative aims to secure access to critical imports and enhance international trade.
• Renminbi Internationalization: The BRI also supports the global use of the renminbi.

Challenges

• Funding Sources: Most BRI projects are not fundable through traditional institutions like the ADB.
• Political and Economic Risks: There are controversies and risks associated with the BRI, including debt sustainability and local opposition.

Other Sections

• Member News: Highlights AmCham Shanghai's Fourth of July party and various events.
• Policy Perspectives: Focuses on commercial bribery, cybersecurity, and regulatory environment.
• Committee Reports: Includes insights from Supply Chain Committee and event summaries.
• Legal Analysis: Discusses the legal implications of commercial bribery and regulatory compliance.

Summary

The 2018 China Business Report and Insight magazine provide a comprehensive view of the business environment in China, emphasizing the growth of U.S. companies, regulatory challenges, and emerging technologies like blockchain. The report also explores the future of the BRI, highlighting both opportunities and risks for U.S. businesses. Overall, it underscores the importance of adapting strategies, leveraging new technologies, and understanding local regulations for continued success in the Chinese market.