China's business environment continues to improve, with high satisfaction rates among companies and positive market expectations for 2024, as highlighted in the latest \\"2024 China Business Environment Research Report\\" released by the China Council for the Promotion of International Trade.
Based on a comprehensive survey of over 6,800 companies and in-depth interviews with nearly 1,000 Chinese and foreign enterprises, the report reveals that businesses operating in China are increasingly satisfied with the overall business climate. The companies rated China's business environment with an impressive score of 4.37 out of 5, with nearly 90 percent expressing they are \\"very satisfied\\" or \\"relatively satisfied\\" – marking a 2.1 percentage point increase from 2023.
The report evaluated 12 key areas, including enterprise establishment and withdrawal, infrastructure, and life-support services, all of which scored above 4 points. Notably, there have been significant improvements in customs services, the ease of establishing and withdrawing enterprises, and the rule of law, contributing to a more conducive business landscape.
Looking ahead, market expectations remain optimistic. Over 70 percent of the surveyed companies anticipate stable or increased profits in 2024, while more than 60 percent are optimistic about China's future economic prospects. Companies also identified areas for further enhancement, such as reductions in taxes and fees and the continuous optimization of the business environment.
These positive developments come as China continues to bolster support for the private sector. In 2024, the country is considering a draft law aimed at promoting private sector development, striving to create a legal and social environment that fosters growth across all types of ownership.
Reference(s):
China's business environment shows continued improvement: report
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