HSBC China: 87% of overseas firms to broaden presence in China

by ZHANG Xiaoyun HSBC China unveils special report "Overseas Enterprises' Outlook o

by ZHANG Xiaoyun


HSBC China unveils special report "Overseas Enterprises' Outlook on China 2023" at the 6th China International Import Expo (CIIE).

The report highlights that driven by China's impressive post-pandemic recovery, a remarkable 87% of the surveyed overseas enterprises are gearing up to broaden their presence in China. The impetus behind this surge is attributed to China's robust manufacturing sector, expansive consumer base, and promising prospects in the realms of digital economy and sustainability.

The survey underscores the top three investment priorities for foreign companies in the Chinese market for 2024: supply chain enhancement, technology and innovation integration, and digitalization proficiency. Moreover, priorities extend to encompass product line diversification and modernization, sustainability initiatives, and robust talent acquisition and development programs.

"Addressing the intricate and ever-evolving global economy, persistent high inflation, a sluggish market, and supply chain vulnerabilities remain key concerns for overseas enterprises. Nevertheless, China's resurgent economy, its expansive market, and seamlessly integrated supply chain are garnering global attention," remarked WANG Yunfeng, President and CEO of HSBC China.

The majority of companies surveyed in the report expressed satisfaction with their existing supply chain framework in the Chinese market, with particular emphasis on the manufacturing sector.

Furthermore, companies are showing a keen interest in China's rapidly expanding green industries, foreseeing renewable energy, electric vehicles, and energy-efficient products as the most promising sectors in China's green transformation.