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Monday, June 24, 2024

According to Trade Body, 70% of Foreign Companies Are Positive About China’s Market Potential

In the fourth quarter of 2023, the China Council for the Promotion of International Trade (CCPIT) released a survey on the business climate in China for enterprises with foreign investments. Nearly 70% of the 600 foreign-invested businesses questioned are optimistic about the Chinese market over the next five years, and the business environment in China is becoming more and more satisfactory.

According to a report on China’s business environment for foreign-invested companies published in the fourth quarter of 2023, more than 90% of the companies that responded to the survey rated China’s business environment as “satisfied” or higher, and more than 90% of them found the Chinese market to be appealing.

Approximately 93% of respondents anticipate their investment’s profit in China would either stay the same or grow over the next five years, which is a 5.8% rise over the previous study. Furthermore, according to a new analysis from the American Chamber of Commerce, half of US businesses surveyed believe China to be the best or one of the top three global investment destinations, an increase of five percentage points from 2022.

The IMF recently updated the world economic estimate for 2024 up to 3.1 percent and upgraded its forecast for China’s economic growth in 2024. The IMF also believes that China’s rapid economic recovery plays a key role in propelling global growth.

China’s Foreign Ministry Spokesperson Wang Wenbin stated, “China welcomes investments from businesses of all countries with open arms and will continue to foster a market-oriented, law-based, and world-class business environment to share with the world the new opportunities brought by Chinese modernization and pursue common development.”

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