Nanjing's business environment is leading most Chinese cities and more than half of the companies surveyed will expand their investment and business, according to the Business Confidence Survey 2019, released by the Nanjing chapter of the European Union Chamber of Commerce in China, on June 24.
More than 500 European companies in China participated in the survey, covering industrial investment, manufacturing, service, and other sectors. Up to 89 percent of the member companies of the Nanjing chapter said they are satisfied with the business environment of development zones in the city, and 88 percent recognized the high quality of Nanjing’s international education. In last year, 10 percent of companies had their revenue increased by more than 20 percent.
European companies remained optimistic about the development prospect in China, and 62 percent surveyed listed China among the top three investment destinations. They were also willing to compete with innovative private companies and provide better services to local consumers, according to the survey.
Bernhard Weber
Bernhard Weber, chairman of the Nanjing chapter of the European Union Chamber of Commerce in China, said the survey showed the strong confidence of European companies in the Chinese market as well as China’s important role in the global supply chain.
The survey showed European companies have not significantly altered their plans for investment and development in China and they also opposed to addressing trade disputes by raising tariffs. The companies surveyed believed that it’s more urgent for China to accelerate reform and opening up. They also called for more efforts to eliminate market entry barriers, reduce regulatory requirements, and make more contributions to China's economic development.
