China’s business environment is getting a major glow-up, according to a new report that surveyed thousands of companies. The 2024 China Business Environment Research Report, released by the China Council for the Promotion of International Trade, reveals 90% of companies are satisfied with operating conditions – up 2.1% from last year. 🚀
With input from over 6,800 businesses (including foreign firms), the study gave China an overall score of 4.37/5 across 12 key areas like infrastructure, customs efficiency, and legal transparency. 💼
What’s Driving the Optimism?
Companies praised improvements in streamlined bureaucracy (setting up or closing businesses is easier now!) and upgraded logistics networks. One CEO described it as 'like switching from dial-up to 5G' for cross-border trade. 🌐
Looking Ahead: More Reforms in the Pipeline? 💡
While 70% of firms saw stable or rising profits this year, they’re hungry for more changes – especially tax cuts. Meanwhile, China is drafting new laws to boost private sector growth, signaling even friendlier policies ahead. Investors, take note! 📝
