American companies are deepening their commitments in China despite global economic uncertainties, according to U.S.-China Business Council President Sean Stein. Speaking at the eighth China International Import Expo (CIIE) in Shanghai, Stein emphasized that U.S. firms are "quietly expanding" through strategic partnerships and innovation-driven projects.
"China remains essential to U.S. companies' global strategies," Stein told CGTN's Tian Wei, highlighting joint research initiatives and integrated supply chains as key growth drivers. He noted that collaboration with local governments has enabled businesses to navigate challenges while maintaining profitability.
The remarks come as global manufacturers diversify supply chains across Southeast Asia and India. However, Stein revealed that U.S. investment in China has grown 18% year-on-year through Q3 2023, with over 200 new R&D centers established since 2021. This trend underscores China's evolving role as both a production hub and innovation partner for multinational corporations.
For investors and analysts tracking Asia's $31 trillion economy, Stein's insights suggest that China's consumer market potential and advanced manufacturing ecosystem continue to offset geopolitical risks. The CIIE itself saw record participation from U.S. firms this year, with 35% expanding their exhibition space.
