EU firms in China starting to feel less gloomy as Beijing offers stability: report
European firms’ confidence in China is starting to rebound for the first time in years, as Beijing offers stability amid global turbulence, survey finds
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European companies’ confidence in the Chinese market is showing signs of rebounding for the first time since 2022, as Beijing is increasingly perceived as a “champion” of stability amid rising global volatility, according to a survey released on Wednesday.
After years of spiralling pessimism, the European Union Chamber of Commerce in China found that “the intensity of the deterioration in confidence in China’s business environment has eased” among its members over the past year.
In the group’s annual Business Confidence Survey – which polled more than 500 European firms operating in China – less than half of respondents said China’s business environment had become more politicised, down from 52 per cent a year earlier.
AdvertisementWhile 68 per cent of the companies surveyed said business conditions had become more difficult in China, that represented an improvement from last year, when a record 73 per cent of respondents agreed with the statement.
Meanwhile, firms reported feeling more upbeat about their expectations for growth and profitability in the coming months.
AdvertisementThe EU chamber conducted the survey between January and February, just before the outbreak of the US-Israel war on Iran and the closure of the Strait of Hormuz.AdvertisementSelect VoiceSelect Speed0.8x0.9x1.0x1.1x1.2x1.5x1.75x00:0000:001.00x