Report indicates ongoing enhancement in China's business climate
On Friday, the China Council for the Promotion of International Trade published its "2024 China Business Environment Research Report," which underscores ongoing enhancements in the nation's business landscape.
TroibNews 
The China Council for the Promotion of International Trade published its "2024 China Business Environment Research Report" on Friday, emphasizing ongoing enhancements in the country's business landscape.
The report, which draws from a survey of over 6,800 companies and detailed interviews with nearly 1,000 Chinese and foreign enterprises, indicates strong satisfaction levels among businesses operating in China. Participants rated China's overall business environment at 4.37 out of 5, with almost 90 percent of those surveyed expressing "very satisfied" or "relatively satisfied," reflecting a 2.1 percentage point rise from the previous year.
In evaluating 12 critical aspects such as enterprise establishment and withdrawal, infrastructure, and life-support services, all indicators surpassed the 4-point threshold. Particularly noteworthy are the improvements in companies' assessments of customs services, business establishment and withdrawal processes, and adherence to the rule of law.
Looking to the future, market expectations are optimistic. Over 70 percent of the companies surveyed reported stable or increasing profits for 2024, while more than 60 percent expressed confidence in the future of China's economy. Companies have identified key areas for further enhancement, specifically in tax and fee reductions and the ongoing optimization of the overall business environment.
These insights come as China enhances its support for the private sector. In 2024, the country is considering a draft law focused on the promotion of the private sector, aimed at creating a supportive legal and social framework for the development of various ownership forms.
James del Carmen for TROIB News
The report, which draws from a survey of over 6,800 companies and detailed interviews with nearly 1,000 Chinese and foreign enterprises, indicates strong satisfaction levels among businesses operating in China. Participants rated China's overall business environment at 4.37 out of 5, with almost 90 percent of those surveyed expressing "very satisfied" or "relatively satisfied," reflecting a 2.1 percentage point rise from the previous year.
In evaluating 12 critical aspects such as enterprise establishment and withdrawal, infrastructure, and life-support services, all indicators surpassed the 4-point threshold. Particularly noteworthy are the improvements in companies' assessments of customs services, business establishment and withdrawal processes, and adherence to the rule of law.
Looking to the future, market expectations are optimistic. Over 70 percent of the companies surveyed reported stable or increasing profits for 2024, while more than 60 percent expressed confidence in the future of China's economy. Companies have identified key areas for further enhancement, specifically in tax and fee reductions and the ongoing optimization of the overall business environment.
These insights come as China enhances its support for the private sector. In 2024, the country is considering a draft law focused on the promotion of the private sector, aimed at creating a supportive legal and social framework for the development of various ownership forms.
James del Carmen for TROIB News
