Business Confidence Survey 2020: Navigating in the Dark

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At a time when China-based European companies find themselves navigating in the dark due to the global COVID-19 pandemic, the results of this year's Business Confidence Survey offer the Chinese Government areas to clearly focus their reform efforts in order to bring about quicker economic recovery and restore business sentiment.

Many of the initial findings of the survey, conducted in February 2020, painted an outlook that no longer accurately represent the views of the vast majority of member companies that have endured a tumultuous first half of the year. However, financial reporting for 2019 still showed significant downward trends. This is seen especially in the logistics, chemicals and petroleum, construction and automotive industries, which have the highest share of respondents reporting negative growth. Additionally, China’s limited and selective opening-up agenda only saw modest progress, with reforms inching forward.

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