NEWS//Investment in China

China and the United States have their issues over trade, but many American companies are making a profit in China and plan to maintain a presence in the country.

Starbucks is on track to open 55 new stores by the end of their fiscal year. Leo Tsoi, chief operating officer and president of Starbucks China Retail, says, "We will continue to increase our investment in the country, making efforts to bring top-level coffee and continuous innovations."

Business Council survey

US-China Business Council released a survey last week of 200 US companies that do business with China that measured the interest of American companies in China. "Both our data as well as conversations with member companies indicate that American companies remain committed to the China market over the long term," said the survey.

• Eighty-three percent of companies counted China as either the top or among the top five priorities for their company's global strategy.

• Seventy percent said they are optimistic about the commercial prospects of the market.

• Ninety-one percent of companies indicated their China operations are profitable.

• Eighty-seven percent of the companies reported no plans to shift production out of China.

• Eighty-six percent of USCBC members report that bilateral trade tensions have impacted their business with China.

China’s commitment

On China's side of that equation, the government is committed to "stabilize foreign trade and secure supply and industrial chains in the second half of this year amid a world business environment that remains complicated and challenging for companies," according to Commerce Minister Zhong Shan.

Sources: China Daily, Shine, China Daily, China Daily, US-China Business Council

https://epaper.chinadaily.com.cn/a/202008/10/WS5f309883a3107831ec754221.html