German firms upbeat on 2023 prospects in China

Right road: Employees work on the production line of a factory of Beijing Benz Automotive Co, a joint venture with Mercedes-Benz. German companies in China have expressed optimism about heading into 2023. — Reuters

BEIJING: German firms showed optimism for their business performance prospects in China in 2023 after the world’s second-largest economy optimised its Covid-19 response and vowed stronger support for economic growth.

Half of the 593 China-based German companies polled expect a rise in turnover in 2023 compared to 2022, according to the latest business confidence survey from the German Chamber of Commerce in China.