Global firms remain bullish on China, survey shows

The majority of global companies in China still see the nation as one of their main strategic markets, despite challenges to their businesses caused by COVID-19 resurgences, said the country's foreign trade and investment promotion agency.

A total of 86 percent of surveyed global firms are satisfied with China's policies on stabilizing foreign investment, said Yu Yi, spokesman for Beijing-based China Council for the Promotion of International Trade, at a news conference on Friday, citing a survey conducted by the council on the challenges faced by global firms and their demands.

Most companies surveyed said the government's newly introduced guideline on building a unified domestic market is able to generate substantial benefits for foreign businesses investing in China, as the policy document significantly boosts their confidence in maintaining stable operations and adding investment across the country.

Robust foreign direct investment offers further evidence. FDI into the Chinese mainland expanded 25.6 percent on a yearly basis to 379.87 billion yuan ($59.66 billion) in the first quarter of this year, with investment in high-tech industries logging an increase of 52.9 percent, data from the Ministry of Commerce showed.

Yu said the businesses also expressed hope that China will gradually expand opening-up in more service sectors.

Based on the survey, a number of global companies said they hope that local governments will improve cross-border trade in services, unveil detailed rules for implementing environmental protection policies, continue to carry out tax and fee cuts, and accelerate the implementation of major projects.