Foreign firms see profitable future in China

Most multinationals in survey express satisfaction with business environment

Nearly 90 percent of foreign companies expect their profits to remain stable or increase in China over the next five years, with a large number of them identifying technological innovation as the primary growth opportunity in the Chinese market, according to a survey released by China's top foreign trade and investment promotion agency on Tuesday.

The study, conducted by the China Council for the Promotion of International Trade and involving 700 foreign companies, found that over 80 percent of respondents were satisfied with China's business environment in the third quarter of 2023, and about 80 percent anticipate that their profits will remain stable or improve in 2023.

Though the global investment sentiment remains subdued, foreign enterprises have sufficient confidence in investing in China, said Zhang Xin, spokesman for the Beijing-headquartered CCPIT.They are happy with the operational aspects such as market access, process of acquiring business premises, access to essential infrastructure facilities and services, and the resolution of commercial disputes in the country, he added.