American Companies Less Willing to Invest in China

BusinessTianjin

American Companies Less Willing to Invest in China

An employee wearing a face mask works on a car seat assembly line in Shanghai

American companies in China reported continuing declines in revenue and profitability and said they are generally pessimistic about market growth and future investment, citing slow economic growth in China and uncertainty in the U.S.-China relationship as their top concerns, according to a business survey.

The annual China Business Climate Survey, conducted by the American Chamber of Commerce in China late last year, found that 21% of member companies reported declines in revenue in 2019, compared with 7% in 2017. The proportion of members reporting profitability fell from 73% in 2017 to 61% in 2019, the lowest in two decades.

Nearly one in four U.S. companies said they didn’t expect their China markets to grow in 2020

The survey was conducted before the signing of the U.S.-Sino phase one trade deal and the Covid-19 outbreak. The impact of the epidemic on the growth outlook for China and the rest of the world and on the implementation of the trade deal is yet to be fully assessed.

Nearly one in four companies and more than 40% in the resources and industrial sectore said they did not expect their markets to grow in 2020, the survey found. In contrast, companies in the consumer and services sectors showed greater optimism on market growth, at the time projecting that China’s consumer market would be likely to remain buoyant reflecting growth in the number of middle-income households.

More than one-third of surveyed members, the largest proportion since 2013, reported they were delaying additional investments in 2020 or even looking to reduce investment because of bilateral uncertainties, the survey found.

Additionally, 16% said they were adjusting supply chains by seeking to source components or assembly outside of China.

TIANJIN: 12 days

without New Cases

Medical workers transport food for patients during lunch hour at Jinyintan hospital in Wuhan

Tianjin didn’t report any case of novel coronavirus (COVID-19) for the last 12 days. Only 2 patients still under treatment in Tianjin Haihe Hospital.

According to the local health commission, 2 patients are stable. A total of 131 patients have recovered and been discharged from hospital. The commission said 2,512 close contacts had been traced and 171 of them still under medical observation.

天津288小时无新增！于洪志医生出院

3月10日6时至18时，本市无新增新冠肺炎确诊病例。治愈出院1人。

截至目前，本市累计报告新冠肺炎确诊病例136例，其中男性73例，女性63例；普通型2例、治愈出院131例，死亡3例。疑似病例15例。累计排查密切接触者2512人，尚有171人正在接受医学观察。

今天下午5点，备受关注的第136例确诊病例海河医院于洪志医生，以治愈患者的身份走出了“红区”。

Part of Shopping Malls

Start Working in Tianjin

Part of shopping malls in Tianjin resume work today. Education, entertainment, gym and cinema in the shopping malls still waiting for further notice. See below updated list and check all Shopping Mall open Today.

Others Shopping Mall are planning to start opening from 12th March.

天津多家商场今日开始复工，大悦城，爱琴海，恒隆都开门营业了。商场中教育，娱乐，健身房，影院，餐饮等部分品牌恢复营业时间待定。

Xi inspects Huoshenshan hospital in Wuhan

President Xi Jinping waves to people quarantined at home in a residential community during his visit to Wuhan

Chinese President Xi Jinping visited Huoshenshan Hospital, a designated hospital to treat COVID-19 patients in critical condition, after he arrived in Wuhan Tuesday morning, learning more about how the hospital operates and treats patients.

Coronavirus closes schools in Madrid as Spain trebled

A masked tourist poses for a photo next to graffiti in Barcelona

Coronavirus cases in Spain have trebled in recent days, forcing schools to close in Madrid.

A woman wears a protective face mask at Puerta del Sol in Madrid

Spain has the world's fifth highest total of cases - with more than 1,622 infections and 35 deaths - and its capital is taking drastic measures to prevent it from spreading.

All schools and universities are closing and Madrid's public transport network will be disinfected every day to kill any bacteria on surfaces.

With the country's busy tourist season fast approaching, government of Catalonia, which includes Barcelona, said it is prepared to implement similar measures if it sees a rise in cases.

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