Foreign firms still optimistic about Chinese market: surveys

Nearly two-thirds of AmCham China's member companies listed China as the world's top or among the top three investment destinations, the report said.

Though AmCham China member companies continue to be optimistic about their opportunities in China, multiple challenges, including sustained air travel disruptions, an increasingly uncertain regulatory environment, difficulty attracting and retaining talent, and the strained US-China relationship, have seen the level of optimism decline.

Another report, released by the German Chamber of Commerce in China and KPMG, indicates that nearly three-fifths of German companies in China reported improved business operations last year and 71 per cent of them plan further investment in China.

China has set its economic growth target at around 5.5 per cent this year.

Boasting the world's second-largest commodity consumption market, the country's retail sales of consumer goods rose by 12.5 per cent year on year to 44.1 trillion yuan (about $6.97 trillion) in 2021, official data showed.

To further open up the economy, a shortened negative list for foreign investment came into force on January 1 this year, with off-limit items cut to 31 from 33 a year ago. The foreign capital cap in the auto industry was removed and manufacturing restrictions in pilot free-trade zones were also reduced to zero.

ALCHEMPro News Desk (DS)