Four-fifths of French Business Alliance Members to Visit Post-covid China In 2023

PARIS–(BUSINESS WIRE)–Headquarters staff of some 80 percent of the members of the French Chamber of Commerce and Industry in China intend to go to China this year as the Asian country overcomes the Covid-19 pandemic.

Some 62 percent of the surveyed members said personnel of their HQs will visit China in the first half of 2023 and another 18 percent said they would do so in the second half of 2023, according to the results of the poll released on March 1. The survey was conducted between Jan. 31 and Feb. 17 with 305 French companies.

As pandemic control and prevention measures are eased, French firms are becoming increasingly confident about developing their business in China.

Some 47 percent of the polled firms said they will boost their investments in China in the next three years, up from a share of 23 percent when a similar study was conducted in the third quarter of last year. Some 28 percent said they would make acquisitions or expand their business, an increase from 25 percent, and 12 percent said they would set up new joint ventures, up from 10 percent.

Based on the latest poll results, more than 60 percent of the firms said they expect their revenues to rise this year from last year. Some 14 percent of the total predict the surge to exceed 50 percent. A quarter of the total say the boost should be 20 percent and 26 percent of the optimists say the increase will be 10 percent.

Dozens of multinational companies, including Volkswagen, Apple, and Pfizer, have already contacted China’s commerce ministry to arrange business visits to China, reflecting the confidence of foreign companies in China’s development, ministry spokesperson Shu Yuting said at a press conference on Feb. 23.

Contacts

Zhu Liming

Email: zhuliming@yicai.com