中国商务环境调查报告（中英文）.docx

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1、Chairman s Message2主席致辞Executive Summary. 4概述2019 Survey Methodology.122019年调查方法Section 1: 2018 Performance 15Snapshot第一局部：2018年绩效速览Section 2: Business Outlook and Growth Opportunities22第二局部：商业前景和增长机会Growth Outlook and Opportunities24增长前景和机会Investment Outlook28投资前景Section 3: Business ClimateChalleng

2、es 35第三局部：商业环境挑战Business Challenges37商业挑战 Human Resources42人力资源 Regulatory Environment50监管环境 Innovation and IPR56创新和知识产权65Section 4: Impact of Bilateral Relations and Tariffs局部：中美关系和关税的影响hurt our member companies. Consistent with views expressed during our survey (in partnership with AmCham Shanghai

3、) on the impact of tariffs conducted in September 2018, tariffs impact business operations in many ways, including higher manufacturing costs, lower customer demand and pressures on profitability.The freedom to import and export goods benefits both American and Chinese citizens in terms of more choi

4、ces, value, jobs and economic wealth, one member- company executive said. Imposing overarching tariffs runs the risk of overshooting and causing a negative impact for everyone involved.R&I and Technology & other R&D-intensive industries have been hit hardest by bilateral tariffs and non-tariff barri

5、ers. As a result, some 52% of R&I and 30% of Technology & other R&D-intensive members indicated they are adjusting their supply chains by seeking to source components and/or assembly“ outside of China or the US.65% of members said trade tensions are influencing their longer-term business strategies,

6、 and nearly a quarter are delaying additional China investments. While trade tensions are prompting some members to adopt a wait and see“ attitude, companies in sectors deeply connected to global supply chains (or exposed to China/ US markets) are taking steps to minimize risks.Implications for busi

7、ness leadersWhile it is difficult to predict whether the US and China will choose cooperation, confrontation or some combination of both, it is clear that the tensions between the two countries are increasingly driven by fundamental differences in their economic systems and other areas, rather than

8、just trade imbalances. Based on our discussions with business executives over the past year, a growing number of companies are hedging their bets through flexible contingency planning, supply chain diversification and delayed investment decisions.Implications for policymakersAlthough the majority of

9、 our member companies remain optimistic that China will further open its markets, they are clear that improvements in regulatory transparency and improved market access would have the greatest impact on investment decisions.More specifically, members would like to see Chinas government provide great

10、er market access, transparency around the policymaking process and consistency in enforcement. At the same time, members would like to see the US government advocate more strongly for a level playing field (47%), pursue results-oriented government dialogues (33%) and apply investment reciprocity (31

11、%).Ultimately, our survey results underpin the widely held view that positive bilateral relations are an important foundation to the success of US companies in China. Finding a comprehensive and enduring resolution to the current trade frictions is critical to create a more positive, predictable env

12、ironment for companies, which in turn will benefit the citizens of both countries, and indeed the world.How significant of an impact would the following changes to the policy environment have on increasing your companys investment levels in China?以下政策环境变化对贵公司提升在华投资水平有多大影响？Increasing the tra parency,

13、 predictability and fairness of the regulatory environment 提高监管环境的透明度、可预测性和公平性Ensuring great protection of intellectual property 加强对知识产权的保护Limiting the use of industrial policies that create barriers 限制使用会制造壁垒的行业政策Allowing us to enter business or product segments that are currently restricted 允许进入目前

14、受限的新业务或产品细分Allowing us to tak in eased control of our China operations/reduce the need for a local business partner or joint venture 允许加强对中国业务的控制/减少对本地业务 合作伙伴或建立合资公司的需求Providing recourse for unfair treatment of your investments 为投资中的不公平待遇提供追诉措施Allowing us to make more a quisition of companies 允许在中国进

15、行战略收购Reducing the need for us to engage in technology transfer 减少技术转让的需要对商业领袖的启示虽然很难预测两国将选择合作、对抗还是两者兼而有之，很明显，两国之间的紧张关系越来越多地受到各自 经济体系和其他领域根本差异的影响，而不仅仅是贸易失衡。根据商会过去一年与企业高管的讨论，越来越 多的企业正通过灵活的应急计划、供应链多元化和延迟投资决策来应对风险。对政策制定者的启示虽然大多数会员企业对中国将进一步开放市场持乐观态度，但他们知道，监管透明度的提高和市场准入的改 善将对投资决策产生最大的影响。具体来看，会员企业希望中国政府扩大市

16、场准入、保持政策制定的透明度和政策执行的一致性。同时，会员 企业希望看到美国政府更加积极地倡导公平的竞争环境(47%),追求以结果为导向的政府对话(33%),实行投 资对等(31%)。最后，调查结果与普遍观点一致，即积极的双边关系是美国企业在华成功的重要基础。寻求全 面持续的解决方案，应对当前的贸易摩擦，对于为企业创造一个更积极，更可预测的环境来说至关重要，反过来 也会使两国人民及全世界受益。2019 SURVEY METHODOLOGY 2019 年调查方法The survey for this report was conducted between November 13 and Dec

17、ember 16, 2018. It was sent to 771 AmCham China member company representatives, of which 314 completed the majority of the questions.Survey respondents represent large, medium and small-sized enterprises from a broad range of industries, including many with global operations. Analysis was further br

18、oken down into four sectors Technology & other R&D-intensive industries, Resources & Industrial, Consumer (products and services) and Services. The same methodology was used as in previous years to ensure consistent analysis and deeper understanding of the issues and opportunities facing our members

19、.本报告的调查时间为2018年11月13日至12月16日。报告发送至771位商会会员企业代表，其中 314家企业完成了大局部问卷。调查受访者代表来自各行各业的大、中、小型企业，其中很多都有全球业务。报告对四个行业进行了进 一步分析，包括技术和其他研发行业、工业和资源行业、消费业(产品和服务)和服务业。商会采用了 与前几年相同的方法，以确保对会员企业所面临的机遇与挑战进行一致的分析和更深入的理解。*Note: chart totals are rounded to the nearest percent 注：由于四舍五入，各数据之和可能不等于总额（100% ）Number of employee

20、s雇员数量Number of employees雇员数量Revenue (2018 USD estimate)预计收入(2018年，美元) Less than 10 million 少于1000万 10 to 100 million1000万至1亿100-500 million 大于1亿小于5亿 500 million to 1 billion 大于5亿小于10亿 More than 1 billion多于10亿Small employers 小鳞勤埼像于250 人） 归翳t8吸肥仁大型雇主（雇员为250至 1000 A ） 田随f出哎，漪留大型雇主（雇员为1001 至2000人）府龌号丽喙断

21、） 大型雇主（雇员多于 2000 人）Where does your company have a legal presence? (Please select all thatapply)贵公司在哪个国家设有法律实体？(请选择所有适用选项) China only 中国 China+US中国和美国Global (China+US+Outside China and US) 全球(中国、美国和其他国家/地区)China+Outside China and U S 中国、中国和美国以外的国家/地区 US only 美国 US+Outside美国和以外 Outside China and US on

22、ly中国和美国以外的国家/地区What percentage of your global revenues is China expected to account for in 2018?2018年贵公司的在华业务在全球营收中占多大比例？ 10% 10-25% 25-35% 35-50%Respondents1 position受访者职位 Senior-level country manager (CEO, VP, GM, Managing Director, Chief Representative)中国区高管(首席执行官、副总裁、总经理、董事经理、首席代表)c, Director of

23、 government relations or public relations department政府关系/公共关系总监Director/functional leader of other department (e.g., HR Director, Finance Director, Sales Director, COO) 部门总监或职能领导(人力资源总监、财务总监、销售总监、首 席运营官等) Other 其他Survey respondents were segmented into four main categories受访者所属行业分为四个类别Technology and

24、otherR&D-intensive industries技术和其他研发行业(n=60)Resources & Industrial工业和资源行业(n = 82) Aerospace 航空航天 Healthcare Products (e.g.z Pharmaceuticals, Medical Technology)医疗产品(如制药、医疗器械) Technology/telecommunicationsHardware 高科技/电信(硬件) Technology/telecommunicationsServices 高科技/电信(服务) Aerospace 航空航天 Healthcare P

25、roducts (e.g.z Pharmaceuticals, Medical Technology)医疗产品(如制药、医疗器械) Technology/telecommunicationsHardware 高科技/电信(硬件) Technology/telecommunicationsServices 高科技/电信(服务) Agribusiness农业 Automotive & Transportation Vehicles 汽车和运输车辆 Machinery, Equipment, Systems & Controls 机械、设备、系统和控制 Oil & Gas/Energy 石油&天然气

26、/能源 Other Industrial (e.g., Chemicals, Mining, Paper & Packaging)其他工业领域(如化学品、采矿、造纸、包装)Consumer (products & services)消费行业(n=64)Consumer (products & services)消费行业(n=64) Consumer Products 消费品 Retail and Distribution 零售与分销 Healthcare Services 医疗服务 Education 教育 Media and Entertainment 媒体与娱乐 Hospitality a

27、nd Travel & Leisure 酒店、旅游与休闲Services服务行业(n = 65) Financial Services (e.g.z Banking, Insurance) 金融服务(如银行、保险) Real Estate and Development 房地产和开发 Transportation and Logistics 运输与物流 Investing (e.g.z Private Equity, Venture Capital)投资(如私募股权、风险投资) Other Services (e.g, Law, Human Resources, Accounting, Mar

28、keting, Advertising and PR, Research, Consulting)其他服务(如法律、人力资源、会计、市场营销、广 告和公关、调研、咨询)Other其他(n=43) Social & Public Sector/nonprofit (including industry associations)社会与公共事业/非盈利机构(包括行业协会) Other(e.g.z environmental services,thinktanks)其他(如环保服务、智库等)2018 Performance Snapshot2018年绩效速览In 2018, Chinas repor

29、ted GDP growth rate held up at 6.6% despite deepening uncertainty, and it appears we are not yet seeing the full impact of US-China trade frictions on the real economy. Some 62% of members continue to see China revenues increase, two percentage points (pp) fewer than in 2017, although the general up

30、ward trend following record lows in 2015 continues. Smaller companies in particular saw declines in profit.Additionally, fewer members reported increased earnings before interest and tax. Decreased EBIT margins are most apparent in the R&I sector. Members reported that worsening industry conditions

31、and increased costs are the main factors driving down profits.在2018年，尽管中国经济面临的不确定性仍在增加，其GDP增长率依然维持在 6.6%o截至目前，暂未发现中美贸易摩擦对实体经济所造成的全面影响。约62% 的会员继续表示其在华收益上升，符合自2015年低谷后总体上升的趋势，但与 2017年相比减少了两个百分点（以下皆同）。其中，规模较小的公司业绩较2017 年相比拟有所下降。此外，较多的会员企业表示息税前利润（EBIT ）后所下降。息税前利润率下降在 工业和资源行业的现象最为明显，其中工业条件恶化和本钱上升是导致利润下降

32、的主要因素。How does the estimated 2018 revenue ofyourChina operations compare with 2017results?2018年贵公司在华业务的经营收入预计与2017年相比有何变化？Down 下滑 Up增长Comparable (2%)持平(2%)More companies reported decreases in revenue vs. 2017相比2017年，更多的会员企业表示收入有所下降Revenue growth last year was not as strong as in 2017, with a 5pp inc

33、rease in the number of companies reporting a decline, although the uptrend from the low of 2015 continues. Smaller companies (those with 250 employees) are faring slightly worse than larger ones, with 15% expecting lower revenue.尽管继2015年低谷后仍保持上升趋势, 但2018年的收入增长不如2017年强 劲，报告下降的公司数量也增加了五个 百分点。规模较小的公司(员

34、工人数少 于250人)情况比大公司略差，15% 的小型公司预计收入会下降。Revenue growth up for Services; down 20% for R&I companies服务行业收入增长;工业和资源行业收入下降20%Down 下滑Comparable (2%) Up持平(2%)增长Technology & othe R&D-intensive industries技术和其他研发行业Resources & Industrial 工业和资源行业Consumer 消费行业Services 服务行业Revenue growth varied widely by industry.

35、The percentage of Services companies reporting increased revenue rose lOpp, but 20pp fewer R&I companies reported revenue growth. Conversely, lOpp more of them reported decreases in revenue.收入增长因行业而异。 其中，表示收入增长 的服务业公司占比增加 了 10个百分点，但表 示收入增长的工业和资 源行业公司占比减少了 20个百分点。此外， 表示收入减少的工业和 资源行业公司增加了 10个百分点。Overa

36、ll profitability declined in 20182018年整体利润率下降How would you characterize your companys financial performance in China in 2018?2018年贵公司在华业务的盈利状况如何？Although overall member profitability declined, profits remained higher than in 2015 and 2016. The number of members characterizing their financial perform

37、ance in China as profitable7 or very profitable fell to 69% in 2018 from the previous years 73%.尽管整体会员企业盈利能力下降， 但利润仍高于2015年和2016年。 在中国实现盈利的会员企业数量从 2017年的73%降至2018年的69%OFewer member companies reported increases in EBIT margins2018年实现了息税前利润率增长的会员企业有所减少How do the estimated 2018 EBIT margins ofyour Chin

38、a operations compare with those of 2017?贵公司2018年在华业务的息税前利润率预计与2017年息税前利润 率相上却何？20172018EBIT margins also declined there was a 3pp increase in the number of companies reporting declines in EBIT margins consistent with the previous profitability chart. Only 45% of members said their businesses in Chin

39、a were more profitable than the previous year, down from 51% in 2017.息税前利润率也有所下降，这表示息税 前利润率下降的会员企业数量增加了三 个百分点，这与之前的盈利能力图表一 致。只有45%的会员企业表示他们在中 国的业务比上一年更为盈利，低于2017 年的51%oDecreases in EBIT margins most apparent in R&I工业和资源行业息税前利润的下降最为明显How do the estimated 2018 EBIT marginsof your China operations comp

40、are with those of 2017?Down 下滑贵公司2018年在华业务的息税前利润率预计与2017年息税前利润率相比方何？Comparable (1%) U0持平(1%)增长Technology &othe R&D- intensive industriesTechnology &othe R&D- intensive industries技术和其他研发行业Resources & Industrial工业和资源行业Consumer 消费行业Services 服务行业工业和资源行业的息税前利润率急剧 下降。选择息税前利润率增加了的受 访企业比例仅为44%，低于2017年 的 59%

41、。R&I companies experienced a sharp drop in EBIT margins in 2018. The percentage of sector respondents reporting increased EBIT margins was just 44%, down from 59% in 2017.CHAIRMANS MESSAGEAmCham China is pleased to release the 21st edition of our annual China Business Climate Survey Report. We are a

42、lso delighted to have partnered with Deloitte for the execution and analysis of this years survey. As one of the key barometers of the sentiment of the American business community in China, this years edition is especially pertinent given the turbulence weve encountered in the US-China economic rela

43、tionship over the past year.We hope that the data included in this report will provide both governments with an accurate and nuanced view of the experiences our member companies are having on the ground in China, and thereby help to inform the negotiators regarding the issues of greatest importance

44、to our members. Yes, there are challenges many longstanding, and many past commitments remain unfulfilled. That said, China is still a critically important market for many American companies, and the bilateral economic relationship is too important to not get right.As you will see in the following p

45、ages, the recent US-China tensions have led 89% of our members to adopt a pessimistic view regarding the bilateral trade relationship. Rising geopolitical uncertainties have led close to one quarter of our members to delay investments in China. But bright prospects for domestic consumption and a mod

46、estly improved investment environment have helped China remain a top investment destination globally, meaning that it remains as important as ever for the two sides to continue their efforts to move the relationship onto a more solid footing.2018 marked the 40th year of Chinas Reform and Opening, an

47、d though our oldest members enjoy access to a vastly different market than the one they found in 1978 and remain confident that Chinas policy of reform and opening will persist, so do perennial challenges such as regulatory inconsistency and limited market access in some sectors.As we celebrate the

48、40th anniversary of the normalization of Sino-US relations, we must not forget just how fragile the mutual trust between the two sides can be. To restore that trust and to build stronger bridges, we urge both sides to agree to and implement concrete actions in the weeks and months ahead that will address many of the concerns highlighted in th