83 percent of the enterprises in the Chinese mainland hold an optimistic attitude about the prospect of international trade in the next two years, above the global average of 72 percent, according to a latest survey released by HSBC.
Although the global business environment is full of challenges, about two-thirds of the companies in the Chinese mainland interviewed by HSBC noted that they will continue to engage in the international trade.
From a regional perspective, the Asia-Pacific region, Europe and North America are still key areas for the companies in the Chinese mainland to expand their international business in the next 3-5 years. Among them, more than 40 percent of the companies surveyed consider the Asia-Pacific region as their main business market, accounting for the highest proportion. The survey also suggested that the Chinese mainland has replaced the United States to become the most important trade market for companies surveyed in the Asia-Pacific region.
"Thanks to the effective control of the COVID-19 pandemic, China's industrial chain has quickly resumed a stable operation, which has resulted in a steady growth of China's foreign trade and thus increased companies' confidence in the international trade prospect," said Fang Xiao, vice president and director of commercial finance of HSBC China, adding that with the signing of the Regional Comprehensive Economic Partnership (RCEP), trade and investment in the Asia-Pacific region are expected to be further strengthened, which will serve as a driving force for the companies in the Chinese mainland to expand overseas markets.
The survey showed that more than two-thirds of the companies surveyed tend to increase their investment next year and focus on new market expansion, product innovation and sales channel exploration. 80 percent of the companies interviewed said they will maintain or even increase their investment in technology.
According to the survey, supply chain is still a common concern of the enterprises in the Chinese mainland. Almost all the interviewed companies have adjusted their supply chain deployment in the past year, including increasing supply chain diversification, developing digitalization and increasing transparency.
83 percent of the enterprises in the Chinese mainland hold an optimistic attitude about the prospect of international trade in the next two years, above the global average of 72 percent, according to a latest survey released by HSBC.
Although the global business environment is full of challenges, about two-thirds of the companies in the Chinese mainland interviewed by HSBC noted that they will continue to engage in the international trade.
From a regional perspective, the Asia-Pacific region, Europe and North America are still key areas for the companies in the Chinese mainland to expand their international business in the next 3-5 years. Among them, more than 40 percent of the companies surveyed consider the Asia-Pacific region as their main business market, accounting for the highest proportion. The survey also suggested that the Chinese mainland has replaced the United States to become the most important trade market for companies surveyed in the Asia-Pacific region.
"Thanks to the effective control of the COVID-19 pandemic, China's industrial chain has quickly resumed a stable operation, which has resulted in a steady growth of China's foreign trade and thus increased companies' confidence in the international trade prospect," said Fang Xiao, vice president and director of commercial finance of HSBC China, adding that with the signing of the Regional Comprehensive Economic Partnership (RCEP), trade and investment in the Asia-Pacific region are expected to be further strengthened, which will serve as a driving force for the companies in the Chinese mainland to expand overseas markets.
The survey showed that more than two-thirds of the companies surveyed tend to increase their investment next year and focus on new market expansion, product innovation and sales channel exploration. 80 percent of the companies interviewed said they will maintain or even increase their investment in technology.
According to the survey, supply chain is still a common concern of the enterprises in the Chinese mainland. Almost all the interviewed companies have adjusted their supply chain deployment in the past year, including increasing supply chain diversification, developing digitalization and increasing transparency.
