China Council for the Promotion of International Trade (CCPIT) held a press release in Beijing on October 31. (Photo: Zhang Yiyi/GT)
There are 90 percent of surveyed foreign firms that rate China’s business environment as “satisfactory” or better, China Council for the Promotion of International Trade (CCPIT) announced in a press release on Thursday.
Among them, 41.67 percent of European companies view China’s market outlook for 2024 as “good,” a 14.17 percentage point increase from the previous month.
Nearly 50 percent of foreign firms noted China’s growing market appeal, with 47.92 percent of European firms seeing a month-on-month increase of 5.42 percentage points, and 60 percent of US firms reporting increased optimism, marking a month-on-month rise of 15.26 percentage points.
The CCPIT surveyed more than 400 foreign businesses and consulted with over 50 foreign chambers to assess China’s market environment in the third quarter. The most satisfactory factors include “market access,” “business premise access,” and “closure procedure.”
Foreign firms indicated a rising willingness to invest in China, with nearly 20 percent planning to boost investment in the country, marking a 2.07 percent month-on-month rise. European companies showed particularly strong interest, with a month-on-month increase of 2.5 percentage points, Sun Xiao, the spokesperson of CCPIT told the reporters.
Sun noted that surveyed foreign firms primarily favor the country’s eastern region for increased investment, comprising 59.52 percent of the total. The main approaches include expanding production lines in China or driving digital transformation.
“We will continue to leverage our dedicated services for foreign-invested enterprises, and persistently improve our service approaches,” Sun said.