This week AmCham China released the 2024 American Business in China White Paper (White Paper). The new edition of the American Business in China White Paper explores the cross-cutting, industry-specific, national, and regional issues faced by AmCham China’s member companies in 2023 and early 2024. Each chapter offers practical recommendations for addressing challenges facing the American business community that will, if implemented, benefit both foreign-invested enterprises (FIEs) and the Chinese economy. We hope that this year’s White Paper will serve as a constructive tool for both the US and Chinese governments and offer a comprehensive set of recommendations for both countries as they work towards greater mutual understanding and successful resolution of outstanding company concerns.
The 2024 White Paper was drafted by more than one hundred member-company representatives. Some of this year’s key themes include:
- A call for China to continue its economic opening and reform by allowing foreign organizations to compete on a level playing field with domestic firms and to clarify how the country’s national security laws apply to business, legitimate due diligence requirements, and the need for detailed information about supply chains.
- Tensions in the bilateral relationship cited as the top business challenge for a fourth consecutive year, with calls to moderate rhetoric despite the resumption of high-level talks.
- A cautious approach to additional US investment in China, amid efforts made by the Chinese government to attract FDI.
- An escalation of US export controls, coupled with counter measures taken by the Chinese government, centered on the tech and financial sectors.
All AmCham China card-holding members should have received an email with a link to download the 2024 White Paper.
All non-members are welcome to buy this publication by clicking on this purchase link.
“US and Chinese leaders have acknowledged the significant benefits American business in China brings to both countries. The goal of our White Paper is to provide a candid assessment to the two governments of the business climate and regulatory environment American companies face doing business in China. This year’s White Paper – the longest in the report’s history – assesses the US business landscape in China, addressing both industry-specific and broad sectoral challenges. It aims to navigate the political disruptions and reinforce our commitment to fostering economic cooperation. Now, more than ever, it is important for the business community to speak with one voice about the challenges and opportunities facing businesses in China. As we mark the 45th anniversary of US-China relations, we celebrate significant progress in the bilateral relationship while noting that uncertainty continues to challenge our economic and trade relations. We trust that the White Paper will remain an invaluable resource for both US and Chinese policymakers, building on its 26-year legacy of delivering objective and accurate insights.”
– Sean Stein, AmCham China Chair
Contained within the White Paper is a Recommendation Scorecard, which tracks the progress made each year in all the areas of greatest significance, as assessed by member companies. In 2024, most areas achieved either moderate or low success, although banking & capital markets was one of two sectors to see high progress in the areas of cross-border data flows and ESG investing, while Tianjin and Northeast China both saw encouraging progress throughout the past year.
In addition to outlining challenges and recommendations, the White Paper expands upon the Chamber’s three Policy Priorities for 2024:
- Encourage high-level communication and dialogue between the two countries to foster mutual understanding.
- Ensure consistent and clear policymaking and implementation to enable businesses to make informed investment decisions.
- Build efficient and equal market access to sustain the commitment of foreign-invested enterprises (FIEs) to the Chinese market.
Click here to learn more about the 2024 White Paper.