60% of EU Companies Plan to Expand in China in 2021 | Dao Insights

60% of European companies plan to expand operations in China in 2021

The European Union Chamber of Commerce in China’s recent “2021 Business Confidence Survey” has shown that 60% of the European companies surveyed plan to expand their business in China in 2021. This marks an increase of almost 10% from last year.

73% of companies said that they achieved profitability last year, while half saw their profit margin in China exceed their global average. The report also highlighted that a quarter of the businesses surveyed are strengthening their supply chain construction in China. Over two-thirds (68%) expressed optimism about the business prospects of their industries in the next two years. 

Foreign Ministry spokesperson Wang Wenbin recently said that China will continue to provide a more favourable business environment for foreign companies in China.  

“The resilience of the Chinese market provides European companies with much-needed shelter from the COVID-19 pandemic.” 

Foreign Ministry spokesperson Wang Wenbin

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