US-China political tensions remain a major concern for American companies in China despite some optimism regarding the relationship improving under President Biden, according to companies surveyed by the American Chamber of Commerce in China.A large portion of US companies are cynical about the aftermath that the bilateral relations could have on their China business over the next two years, with only 16% of respondents expressing optimism, according to the Chamber’s annual Business Climate Survey, which was published Tuesday in Beijing. The Chamber surveyed 345 companies in October and November 2020. The negativity arrives despite 50% of respondents estimating the tone of the US-China relationship would possibly improve this year following the change in leadership in Washington, up from just 30% of respondents last year who thought relations would improve. China was the only major world economy to expand last year, and served as a lifeline for a range of large US companies, including Starbucks Corp., Nike Inc. and Tesla Inc.,which reported rising sales in China even as its other markets were suppressed by the pandemic.
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