US firms optimistic about business prospects in China: survey

WASHINGTON - US businesses in China are profoundly positive about doing business in 2021 and expect ties between Beijing and Washington to improve, a survey by the American Chamber of Commerce released Tuesday shows.

The survey, reported by Bloomberg, shows that as many as 81 percent of the 345 respondents see their industries in China growing in 2021. Half of the respondents said China's investment environment is improving, while only 12 percent believe it is deteriorating, the lowest since 2012.

Over 60 percent are confident the government will further open up its markets, according to the study.

Moreover, 45 percent see relations with the United States improving, registering a 15 percent increase from last year.

"With China leading in economic recovery and the new US administration in place, our members are cautiously optimistic regarding business growth in China," said the report.