Most US corporations in China are optimistic concerning the Biden administration: group of corporations

© Reuters. US President-elect Joe Biden speaks after meeting with governors in Wilmington, Delaware

BEIJING (Reuters) – Over 60% of American companies in China are more optimistic about doing business in China after the results of the US presidential election, according to a corporate group poll released Friday.

However, almost a third of the companies believed in China-US. Trade tensions will persist indefinitely, according to a survey by the American Chamber of Commerce in Shanghai of 124 companies that found that 33% of company executives are concerned for the personal safety of workers in China due to exit bans or incarceration.

Most respondents to the survey, which was conducted November 11-15, did not expect any increases in trade restrictions or tariffs. Companies were also more optimistic about projected revenues for 2020 compared to a survey in July.

"Despite optimistic expectations for a better business environment between the US and China under a Biden administration, China should reassure US companies to continue attracting US investment," the chamber said in a statement released alongside the poll.

US President-elect Joe Biden said Monday the US must negotiate with allies to set global trade rules to counter China's growing influence.

Washington and Beijing have exchanged sanctions and barbs on a growing list of issues, including trade, a new national security law imposed on Hong Kong, the coronavirus, and U.S. allegations of national security threats from Chinese tech companies.

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