Foreign companies keen to expand business in China despite pandemic headwinds

GUANGZHOU, March 16 (Xinhua) -- Despite the protracted COVID-19 pandemic and the downward pressure on the macro-economy, foreign companies are generally optimistic about the Chinese market and plan to further expand their investment in China.

Foreign enterprises have faith in the comprehensive competitive advantages of China over market size, industrial support and business environment, according to the 2022 Special Report on the State of Business in South China released by the American Chamber of Commerce in South China (AmCham South China) on March 1.

More than 70 percent of the assessed companies have reinvestment plans in China for 2022. Roughly 72 percent of companies intend to expand in China over the next three years, with the estimated reinvestment reaching 26.5 billion U.S. dollars, the report stated.

A promising investment prospect, high return and excellent environment have turbocharged the investment of foreign enterprises in China.