Survey: Companies confident of Chinese market prospects despite COVID-19
China's comprehensive supply chain, sound infrastructure and opening-up efforts are compelling more foreign companies to stay and invest long-term in the market, according to a seasoned executive from global professional service company Tricor Group.
The company, whose portfolio include offering corporate, human resources and debt services for companies, gathered the views that 1,050 executives from various industries have about China's role in today's fast-changing business landscape.
According to Zhang Hailiang, CEO of Tricor Group for the Chinese mainland, the enterprises surveyed view China as one of the few growth points in the world amid the COVID-19 pandemic.
"Company representatives whom I've spoken to simply have no reason to give up on China's well-established and highly efficacious supply chain," said Zhang.
He added that all the 500 plus enterprises that Tricor serves in China, most of which are foreign-funded, have resumed businesses, with none of them expressing any intention to move out of China.
"These companies have hailed China's epidemic control and prevention measures as one of the best and most effective worldwide," he said. "China's overall strengths, including supply chain, opening-up of financial services, as well as talent in e-commerce, are so prominent that they might, in some cases, appease cost effectiveness concerns."
According to Zhang, enterprises that were surveyed said they remain optimistic of Asia Pacific's long-term growth momentum and anticipate recovery in the region to occur from the second half of this year.
He noted that foreign enterprises are heartened by the many favorable measures adopted by the government, such as the introduction of foreign capital, the optimization of business environment and the shortening of the negative list.
"These moves and the pledge to host the third China International Import Expo reflect strong government commitment to allow foreign capital to thrive in China," he said.