Global firms to stay in China despite trade war: report

Few of the 219 companies from around the world surveyed plan to give up fully on the Chinese market, despite the impact of the US-China trade dispute, according to a report by the American Chamber of Commerce in South China (AmCham South China).

Screenshot of "The Special Report on the Impact of U.S. and Chinese Tariffs" conducted by the American Chamber of Commerce in South China. [Screenshot: Wechat/AmChamSouthChina]

The report, "The Special Report on the Impact of U.S. and Chinese Tariffs," is based on a survey of 219 companies from China, U.S., Canada, the European Union, Japan, Korea, Southeast Asia, Australia, New Zealand, and the Hong Kong and Macau SARs.

Of the respondents, over half are in the service-sector, one-third are engaged in the manufacturing industry, and around one-seventh in other industries, with roughly 95 percent with operations in China.

According to the survey, very few of the participants intend to give up on the Chinese market. Instead, the AmCham South China survey has found a majority of them see an expansion of the Chinese market as one of the most important remedies for the imposed tariffs.

Although a majority of respondents say they have considered the idea of relocating certian manufacturing lines outside of China, just one percent of the companies involved in the survey have indicated any plans for establishing manufacturing facilities in North America.