BritCham’s Seventh Sentiment Survey is open for responses!

We want to know what British businesses are thinking about their operations in China. Tell us about your confidence in the Chinese market, your plans for investment this year, and how you rate UK-China bilateral relations. Through the survey, the Chamber will capture a holistic and national perspective on sentiment from British business in China.

This survey is open to all British businesses in China. Members of the British Chamber of Commerce will be invited to attend our launch activities and have the opportunity for government engagement.

All responses remain anonymous in the final report. Respondents from C-Suite leadership, heads of government affairs, heads of legal or similar departments are best-placed to complete this survey.

As China emerges from three years of pandemic-induced disruptions, British businesses find themselves at a critical juncture. The British Business in China: Sentiment Survey 2023-2024, reflecting insights from over 300 diverse companies, sheds light on the challenges and opportunities shaping the landscape.

Business outlook

• End of peak pessimism
  Business sentiments are evolving from the peak negativity witnessed in 2022-2023, with a slow return to optimism.

• Treading water on investment
  Amidst uncertainty, many companies are adopting a “wait-and-see” approach when it comes to investment, maintaining current levels in 2024.

• Size matters
  Small and medium-sized enterprises (SMEs) bear the brunt of knock-on effects, facing increased difficulty in business operations, with a large proportion still reporting revenue levels below pre-pandemic times.

Issues driving sentiment

• Economy takes centre-stage post-COVID
  China’s reopening in 2024 shifts focus from pandemic-related challenges to broader economic concerns, on both a global and domestic level.

• Geopolitical concerns remain prominent
  Uncertainty surrounding China’s political relationships continues to impact businesses, with unpredictability in trade policies negatively affecting business operations.

• Talent and recruitment priorities evolve
  Despite the easing of COVID-19 travel restrictions, foreign talent attraction takes a backseat. Companies now prioritise finding skilled workers from the Chinese talent pool.

• Positive reaction to government approach
  British businesses respond positively to increased government-business dialogue and initiatives such as the 24 Point Guidelines for Attracting Foreign Investment, as a means to address regulatory challenges and market access issues.

Opportunities remain

• R&D opportunities for British businesses in China provide collaboration opportunities
  Interest sparks in Research and Development (R&D) areas such as sustainability, AI, and technological advancement, aligning with China’s growth objectives in these sectors.

While challenges persist, the positive response to increased dialogue and government initiatives provides a glimmer of hope. If implemented effectively, the proposed guidelines could drive investment, job creation, and foster economic recovery for both Britain and China.

Unlock the Full Report: Enter your details to access the complete British Business in China: Sentiment Survey 2023-2024. 

For additional inquiries, please contact us at advocacy@britishchamber.cn.

The British Business in China: Sentiment Survey 2023-24 measures the outlook of British businesses across the country for 2024, representing the voices of our members across goods and services, from small businesses to large multinationals with on-the-ground operations.

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