Michael Hart

China will remain an attractive market for companies from the United States, as the country's focus on technological innovation, electric vehicles and biotechnology continues to offer significant opportunities for US businesses, said the head of the American Chamber of Commerce in China.

China's push for high-tech self-sufficiency and industrial upgrading presents challenges as well as opportunities for US businesses, said Michael Hart, president of AmCham China, in a recent interview with China Daily.

AmCham China is a nonprofit, nongovernmental organization with around 800 member companies operating across China, including Coca-Cola, Pfizer, Qualcomm, Honeywell, Walmart and Dell Technologies.

To facilitate their growth, Hart said that US businesses should ensure strict compliance with both US and Chinese regulations to mitigate risks, invest in research and development tailored to the Chinese market, and leverage global expertise while adapting to local conditions.

In addition, the chamber will continue to facilitate business networking and knowledge-sharing by providing platforms for members to exchange insights on how to adapt to China's evolving market dynamics, he added.

Under its plan, AmCham China will also monitor policy and market trends, helping companies to remain agile and adjust their strategies in response to geopolitical developments and regulatory shifts.

About 87 percent of surveyed member companies of AmCham China stressed the great importance of a constructive bilateral relationship for their operations in China. In the technology, research and development sector, one of four main subsections of the chamber's membership, this figure rose to as high as 95 percent, according to the"2025 China Business Climate Survey Report" released by AmCham China in late January.

More than half of US respondents said they plan to increase investments in China this year, and about 63 percent of enterprises surveyed viewed rising tensions in China-US relations as the top business challenge of US companies in China, according to the report.

Noting that the chamber is not in favor of widespread tariffs, Hart said AmCham China advocates constructive dialogue and policy predictability to reduce volatility in trade relations. "Ensuring that businesses can operate competitively and with greater certainty benefits both economies and supports global economic stability," said Hart.

To foster long-term stability and mutual benefit, US businesses would like to see greater transparency, predictability and reciprocity in trade policies. Priorities include strengthening government-to-government dialogue and reducing trade barriers, he added.

In the first two months of 2025, the US remained China's third-largest trading partner, with the total trade value between the two countries reaching 733.67 billion yuan ($101 billion), up 3.5 percent year-on-year, statistics from the General Administration of Customs showed.

Speaking on China's evolving industrial landscape, Judy Marks, chairwoman, CEO and president of Otis Worldwide Corp, reaffirmed the Farmington, Connecticut-based group's commitment to continued investment in China, especially in manufacturing and digitalization.

Marks highlighted that, since 2008, China's rapid urbanization has driven annual growth of about 1.5 million in-service elevators. By 2024, nearly 1 million elevators had reached their aging replacement period — defined as 15 years or older — a trend that is expected to continue through the end of the decade.

Lorenzo Simonelli, chairman and CEO of US energy group Baker Hughes, expressed strong confidence in China's economic outlook and advancements in energy innovation, emphasizing that the country's drive toward industrial upgrading and green development is unlocking substantial opportunities.

"We look forward to deepening our investment and collaboration in China, with the aim of delivering more high-quality solutions to support both China's transformation and global energy needs," he said.

To maintain its appeal to global investors in the long run, China will further open up internet-related, cultural and other sectors in a well-regulated manner and expand pilot programs to open areas such as telecommunications, medical services, according to this year's Government Work Report.