A view of the skyline of Beijing's CBD area. Photo: VCG

American companies operating in China demonstrated resilience and improved financial performance in 2025, even as they navigated a complex global economic environment and ongoing geopolitical uncertainty. Meanwhile, expectations for their business operations in China over the next two years are becoming more stable, according to a survey released on Friday.

China remains a critical market for US companies, according to the 2026 annual China Business Climate Survey (BCS) Report, also the 28th one, released on Friday by the American Chamber of Commerce in China (AmCham China), based on 368 responses from US companies operating in China.

"A defining feature of this year's survey is resilience," said James Zimmerman, AmCham China Chairman, on Friday at a press briefing for the BCS report.

"American companies in China have continued to adapt, compete and deliver results amid prolonged uncertainty. With greater clarity, predictability, and effective guardrails in the bilateral relationship, that resilience can increasingly translate into opportunity and growth," said Zimmerman.

US companies cited China's strategic importance and long-term market potential as the primary drivers of expanded investment, with 52 percent of respondents rank China among their top three global investment destinations, up 4 percentage points from in 2024. Meanwhile, 71 percent of companies report no intention to relocate operations overseas, citing China's strategic market position as a primary anchor.

In terms of market openness, 39 percent of respondents said China's investment environment has improved, up 6 percentage points, and 70 percent reported feeling either more welcome year-on-year or seeing no change, the survey showed.

As for opportunities in 2026, which marks the opening year of China's 15th Five-Year Plan (2026-30), Michael Hart, AmCham China President, responded to the Global Times that "signals that we're getting from the central government, in general, are they welcome foreign investments, and that the market will be more open for foreign investment. So we're confident that there will be opportunities for our member companies."

"My impression is that the Chinese government continues to prioritize foreign investment. They continue to want to open up foreign investment. They have talked about decreasing, for example, the negative list," said Hart, adding that AmCham China had a number of discussions with its member companies to give feedback at various central government agencies.

Hart also said that as China needs more healthcare going forward, as it gets richer and grayer, "we continue to see plenty of opportunities for our member companies."

As showed in the BCS report, respondents view domestic consumption growth and sustained economic and market reforms as important development opportunities in the Chinese market.

To capture future growth, US companies are looking to grow their core business (80 percent), launch new products and services (54 percent), and target new customer segments (41 percent).

"Looking ahead, our members see the potential for that resilience to translate into opportunity and profitability, provided the bilateral trade and investment relationship is guided by greater clarity, predictability, and guardrails that reduce the risk of sudden escalation," said Zimmerman.

The report points out that a stable and constructive US-China relationship remains crucial for the vast majority of AmCham China member companies, with 83 percent of respondents highlighting the importance of positive bilateral relations to their operations in China.

Global Times