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American companies still optimistic about China business outlook

Reading U.S. President Donald Trump’s tweets, one might think U.S-China relations are hitting rock bottom. But for American companies doing business in China, things are not that bad, a survey showed.

The U.S.-China Business Council found that nearly 70% of member companies said they are optimistic about the five-year business outlook in China, the group reported Tuesday. Its survey showed that 83% counted China as either the top priority for their company’s global strategy or among the top five.

Reflecting long-term confidence in the China market, 87% of companies reported no plans to move production out of China, while only 4% said they shifted or planned to shift operations to the U.S. because of lagging consumer demand in China. The remaining 11% reported recent or planned production moves to other parts of the world, with Thailand and Mexico the leading alternative destinations.