File Photo: Agencies.

US businesses in China are more optimistic about their future outlook in the world's second largest economy, according to a survey by the American Chamber of Commerce in Shanghai that was released on Friday.

Out of 124 company leaders surveyed from November 11 to 15, more than half (54.8 percent) said they are "more optimistic" and 8.1 percent said they are "much more optimistic" about a change of approach toward China from the US, the survey found.

Only two are more pessimistic about doing business in China.

The majority of the respondents look at the future positively, said Ker Gibbs, president of AmCham Shanghai in an interview with CNBC. He felt that a Joe Biden administration would play a positive role in the stability of the environment and relationship.

The US presidential election results were revealed almost two weeks ago, and global leaders have been sending congratulations to Biden, the projected winner. However, Trump has refused to concede the election to Biden and is waging numerous legal fights in key battleground states.

Tensions between the US and China escalated under the Trump administration. Trump started the trade war with China, which met with retaliation, with the two sides slapping tariffs on billions of dollars' worth of goods on each other. Eventually, the trade conflict spilled over to confrontations in technological and financial industries.