China remains attractive for investors
Print Edition
FOREIGN companies still consider China one of the top investment destinations despite the economic slowdown, survey results revealed yesterday.
Of the 496 companies surveyed, 60 percent listed China as one of the top-three investment destinations, while a quarter considered China the No. 1 priority, according to the Business Climate Survey released by the American Chamber of Commerce in China.
Companies across various industries see rising consumption as well as an increasingly large middle class as creating opportunities. While China’s economic growth slowed to a 25-year low of 6.9 percent in 2015, consumption contributed 66.4 percent to that growth.
The survey also showed China’s economic slowdown is hitting profits at more foreign companies.
The number of foreign companies rating their business profitable dropped to a five-year low in 2015. Compared with 73 percent in 2014, 64 percent of respondents said their companies were financially profitable in the last year.
Revenues at 45 percent of the firms remained flat or declined compared with a year earlier, compared with 39 percent in 2014, the report said. Data from China’s statistics bureau showed growth for 2015 was 6.9 percent, its weakest pace in a quarter of a century.
“Although many respondents remain optimistic about China’s domestic market growth potential, almost half of the survey respondents expect China’s overall GDP growth in 2016 will be lower than 6.25 percent,” the AmCham said in the report.
Forty-eight percent of respondents expected China’s GDP growth this year to reach 6.25 percent or less.
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