China’s business environment is on the rise, according to a new report. The China Council for the Promotion of International Trade unveiled its “2024 China Business Environment Research Report” on Friday, highlighting ongoing improvements across the country.
The report is based on a survey of over 6,800 companies and in-depth interviews with nearly 1,000 Chinese and foreign enterprises. Businesses gave China’s overall business environment a score of 4.37 out of 5. Impressively, nearly 90% of those surveyed expressed that they are “very satisfied” or “relatively satisfied” with the current climate—marking a 2.1 percentage point increase from last year.
The assessment covered 12 key areas, including how easy it is to start and close a business, infrastructure quality, and services that support daily life. All categories scored above 4 points. Notable improvements were seen in customs services, the processes for establishing or withdrawing enterprises, and the rule of law.
Looking ahead, the market sentiment remains upbeat. Over 70% of the surveyed companies reported stable or increased profits for 2024. More than 60% are optimistic about China’s future economic prospects. However, businesses also highlighted areas for further enhancement, such as reducing taxes and fees and continuing to optimize the business environment.
These positive findings come as China strengthens its support for the private sector. In 2024, the country considered a draft law aimed at promoting the private sector, seeking to create a legal and social environment that encourages the development of all types of ownership.
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China's business environment shows continued improvement: report
cgtn.com
