Survey: 45% of Foreign Firms Rank China as Top Global Investment Priority
By ZH Sailing Research | March 2026
A growing share of multinational companies continue to view China as their top global investment destination, underscoring the country’s enduring role in global business strategy despite ongoing trade tensions.
According to a new report released by the American Chamber of Commerce in South China, 45 percent of surveyed companies ranked China as their top global investment priority, up 6 percentage points from 2024.
The findings come from the chamber’s 2026 Special Report based on its 22nd annual State of Business in South China Study, which surveyed 426 companies operating in China.
The report highlights that multinational companies continue to deepen their engagement with China’s economy, citing the size of its domestic market, the sophistication of its industrial ecosystem and its long-term growth prospects.
Harley Seyedin, chairman and president of the chamber, said the survey results reflect a clear message from global companies.
“Businesses are deepening—not retreating from—their engagement in China,” he said, adding that companies continue to recognize the country’s central role in global operations.
China remains a key revenue source
Revenue data in the survey also underscores China’s importance for multinational firms.
According to the report:
37 percent of surveyed companies generate more than 60 percent of their global revenue from China, an increase of six percentage points compared with the previous survey.
At the same time, 95 percent of participating companies confirmed they plan to maintain their operations in China, and none reported a complete withdrawal from the market.
Among companies that have relocated a portion of their investment outside China, 79 percent moved less than 30 percent of their investment, suggesting that most firms continue to maintain substantial operations in the country.
Reinvestment plans remain strong
The survey also indicates continued investment momentum.
Seventy-five percent of surveyed companies plan to reinvest in China in 2026, with companies collectively allocating about $13.79 billion from their China profits for reinvestment over the next three to five years.
Companies said reinvestment is primarily aimed at:
expanding market share
strengthening localization
increasing innovation capacity
integrating more deeply into China’s supply chains
These trends highlight the evolving role of China not only as a consumer market but also as a global innovation and production hub.
Improving outlook for US–China business relations
Business sentiment regarding bilateral relations has also improved.
According to the survey, 39 percent of companies now express a positive outlook on US–China relations, an increase of 14 percentage points from 2024.
Although many companies still expect potential trade frictions in 2026, most believe disruptions will likely be shorter and more manageable compared with previous years.
Major Chinese cities remain key investment hubs
The survey also ranked the most attractive investment destinations in China.
For the ninth consecutive year, Guangzhou was named the top investment destination, chosen by 38 percent of respondents.
Other leading cities include:
Shenzhen — 29%
Shanghai — 10%
Beijing — 5%
Analysts say the results highlight the continued importance of the Greater Bay Area and major economic centers in attracting multinational investment.
Key Data
Companies surveyed: 426
China ranked top global investment destination: 45%
Companies generating >60% global revenue from China: 37%
Companies maintaining operations in China: 95%
Companies planning reinvestment in 2026: 75%
Estimated reinvestment: $13.79 billion
Source: American Chamber of Commerce in South China
Market Implications
1. China remains a core market for multinational firms
Many global companies continue to rely heavily on China for revenue and supply chain operations.
2. Reinvestment signals long-term commitment
Despite geopolitical uncertainty, firms are continuing to expand local operations and innovation activities.