On July 3, the European Chamber South China Chapter released the European Business in China Business Confidence Survey 2023 (BCS) in Shenzhen.
The BCS data indicates that 77% of respondents are interested in expanding their businesses in South China, and 97% of companies have confirmed their commitment to remaining in the region, showing confidence in the local business environment.
Francine Hadjisotiriou, General Manager,European Chamber South China Chapter (L), Klaus Zenkel, Vice President, European Chamber; Chair, South China Chapter, Gianluca Giorgi, Vice Chair European Chamber South China Board (R). (Photo: GDToday)
According to the BCS, some aspects of doing business have also improved slightly, such as dealing with construction permits, accessing utilities, and facilitating trade across borders.
In addition, the BCS indicates that respondents face various challenges, such as getting credit, protecting minority investors and enforcing contracts. Businesses in South China are addressing the rising costs through measures such as increasing automation and improving efficiency.
Based on the survey results, the European Chamber South China Chapter recommends that there should be more clear and concise information dissemination for both Chinese and foreign entities, bilingual publication of information, the successes of the Guangdong-Hong Kong-Macao Greater Bay Area should be highlighted, and public forums to encourage wider participation should be highlighted.
Author | Hannah
Photo | Guan Jieming
Editor | Olivia, Jasmine, James
