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. Expectations for their business operations in China over the next two years have also become more stable, according to a survey released on Friday.

Chinese experts said that China's vast market, complete industrial system, improving business environment, and new quality productive forces continue to offer unmatched opportunities and long-term strategic value for US companies.

China remains a critical market for US companies, according to the 2026 annual China Business Climate Survey (BCS) Report 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, at a press briefing on Friday 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 ranking China among their top three global investment destinations. 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 to foreign investment. They have talked about decreasing, for example, the negative list," said Hart, adding that AmCham China has 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, 72 percent of responding companies expect their industry to maintain a certain degree of growth in 2026. Respondents view domestic consumption growth and sustained economic and market reforms as important development opportunities in China.

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).

The survey also indicates that 57 percent of US companies plan to increase their investment in China, among which 18 percent anticipate an investment growth rate exceeding 20 percent.

"The confidence of US companies stems from China's ultra-large market dividend, globally unique complete industrial system and accelerating optimization of the business environment," Li Yong, an executive council member of the China Society for WTO Studies, told the Global Times on Friday.

The development of China's new quality productive forces creates innovation and collaboration opportunities for US companies that are unmatched in other markets, Li added. 

Rapid technological iteration and rich application scenarios in areas such as artificial intelligence, new energy, and biotechnology provide American enterprises with new avenues for R&D, partnership, and commercialization - reinforcing the long-term strategic value of their presence in China, said Li.

"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.

China-US relations have become a critical variable for American firms operating in China. Stable ties are essential for investment planning, cost control and supply-chain security, Li said.

Zhou Mi, a senior researcher at the Chinese Academy of International Trade and Economic Cooperation, told the Global Times that the survey shows that US enterprises in China generally hope that China-US economic and trade relations can remain stable. 

"This would create a more predictable operating environment, effectively reduce business costs and risks, and enable them to share in the dividends of China's high-quality development," said Zhou.