China, US firms to boost cooperation as world recovers from pandemic: official

It is a rational and righteous choice for Chinese and US companies to strengthen cooperation amid the COVID-19 pandemic, a move that will help both countries and the world to recover from the impact of the outbreak, a Chinese official said on Tuesday.

Both countries have huge markets, so their industry, supply and services chains are profoundly linked, and many companies have close interaction in terms of investment, production, research and development, as well as sales, Foreign Ministry spokesperson Geng Shuang told a news briefing.

Two recent surveys revealed that the majority of US companies in China are optimistic that their operations will recover despite challenges in the Chinese market, and they do not intend to leave China.

The surveys were conducted jointly by the American Chamber of Commerce in China (AmCham China), AmCham Shanghai and PwC China.

The survey results speak of the resilience and the reciprocal nature of China-US economic and trade relations, Geng said.

“The fundamentals of the Chinese economy are unchanged and will remain sound in the long run, and we are happy to see that the US industry and business sectors are optimistic about the prospect of China’s economic growth, as many companies has recently increased investment in China,” he said.

Starbucks in March announced a plan to build a coffee innovation park in East China’s Jiangsu Province.

“In contrast to some global narratives, our China-based data suggests that the majority of our members will not be packing and leaving China market anytime soon,” said Alan Beebe, president of AmCham China.