Foreign firms confident amid opening-up efforts

Big market: People walking past an advertisement at a shopping mall in Shanghai. China’s retail sales of consumer goods rose 12.5% year-on-year to 44.1 trillion yuan (US$6.97 trillion or RM29.18 trillion) in 2021. — Bloomberg

BEIJING: Despite the protracted pandemic and increasingly complex global environment, foreign companies are casting a vote of confidence in the Chinese economy as they continue to see opportunities amid the country’s opening-up efforts.

According to the 2022 China Business Climate Survey Report jointly released by the American Chamber of Commerce in China (AmCham China) and PwC, around 60% of the surveyed companies said they made profits in China in 2021, and two-thirds of them plan to increase their investment in China this year.