
China’s ability to restore its position as a leading global investment destination depends largely on the ability to regain a reputation for certainty, stability, and trust, finds the results of the British Business in China: Position Paper 2023.
While businesses are much more optimistic about their prospects in the market than they were a year ago, they say more needs to be done to improve consultation between businesses and the Chinese government, and level the unequal playing field between SOEs, domestic businesses, and international companies.
Still, British businesses highlight many reasons to be optimistic about the Chinese market; 86% of businesses are optimistic about China’s market potential in the long-term, and almost three-fifths of businesses are more optimistic now travel has resumed.
To make sure China is able to reach its full market potential, the British Chamber of Commerce is calling for concrete action, to improve transparency, restore competition, and reduce uncertainty.
We call for:
- Actions to support proposals and statements related to further opening up;
- Measures to improve transparency and competition between SOEs, domestic companies, and international businesses;
- Clarity to reduce compliance uncertainty for businesses navigating the regulatory environment;
- An open and inclusive consultation process when designing and implementing policies;
- Clear and increased lines of communication at all levels.
To access the Report please click here.
Our sincere thanks to the British Chamber of Commerce in China for kindly sharing the Position Paper.