Over 80 pct of foreign companies satisfied with China's business environment: survey

A drone photo taken on Jan. 28, 2024 shows ships unloading cargo at the ore wharf of Tangshan Port in north China's Hebei Province. The province's cargo throughput reached a record high of 1.36 billion tonnes in 2023. [Xinhua/Yang Shiyao]

BEIJING -- More than 80 percent of foreign-funded companies in China are satisfied with the country's business environment, according to a survey released on Tuesday.

The survey, carried out in the fourth quarter of 2023 among nearly 600 businesses, revealed that more than 90 percent of the respondents find the Chinese market highly attractive, and almost 70 percent expressed optimism regarding market prospects in the next five years, according to Yang Fan, spokesperson of the China Council for the Promotion of International Trade.

"The fundamentals of the Chinese economy will remain stable and sound in the long run, and 'the magnetic attraction' of the Chinese market for foreign investment will become stronger," Yang told a press conference.

Of all the foreign companies surveyed, 68 percent are micro and small firms and 65 percent are engaged in processing and manufacturing in China.

The survey indicated a sustained improvement in foreign enterprises' satisfaction with China's business environment during the fourth quarter. Across various aspects, including market access, taxation and commercial dispute settlement, over 90 percent of the businesses expressed satisfaction.

Yang said that over 90 percent of the surveyed companies expect their profitability to either remain at the current level or increase in the next five years, while more companies, compared to the third quarter, have plans to increase their investments in China.