China still a very attractive investment destination: AmCham South China report
Photo taken on May 7, 2019 shows vehicles at the Tiexi Plant of BMW Brilliance Automotive (BBA) in Shenyang, northeast China's Liaoning Province. (Xinhua/Yang Qing)
GUANGZHOU, Feb. 28 (Xinhua) -- China is still considered one of the most attractive destinations for investment with more companies planning to reinvest in China this year, according to a report released Monday by the American Chamber of Commerce in South China (AmCham South China).
The chamber's annual white paper on China's business environment is seen as a window for observing China's business environment through the eyes of foreign-funded enterprises. The white paper was based on a survey of more than 200 companies from September to December 2022. Among the surveyed businesses, 40 percent are wholly foreign-owned companies, and nearly 20 percent are representative offices of foreign companies and joint ventures.
The report showed that more than 90 percent of the participating companies select China as one of the most important investment destinations.
More than half of the companies gained over 30 percent of their global revenue from China, and 45 percent registered a significant or slight increase in their revenue from China last year, according to the report.
China has been among the world's fastest-growing economies with one of the most dynamic markets. Although its economy is shadowed somewhat by uncertainty caused by the pandemic, most companies still consider China a critical part of their future strategic development plans, and 75 percent of the participating companies plan to reinvest in China in 2023, an increase of around 3 percent, said the report.
With more than 2,300 members, AmCham South China provides support for American and international companies doing business in south China.