European Business in China: Position Paper 2023/2024

On 20th September, the European Chamber will publish its European Business in China Position Paper 2023/2024 (Position Paper 2023/2024), the culmination of nine months dedicated work by our 48 working groups, sub-working groups, desks, and fora. This year’s Executive Position Paper focuses on how China’s post-COVID-19 recovery has faltered and what Chinese policymakers can do to address this.

China’s decision to reopen its borders on 8th January 2023 was a welcome surprise and many believed that a swift economic rebound would follow. The political will in China also seemed to finally match businesses’ expectations for increased opening of the economy. However, as the year has progressed, many areas of China’s economy failed to perform as hoped.

The much-anticipated release of pent-up consumer demand did not take place and serious structural challenges have continued to weigh on growth. At the same time, although official announcements aimed at improving the business environment have been released, so has a slew of national security-focused legislation, which has deepened uncertainty and raised compliance risks. This has sent mixed messages to the business community, leaving many companies questioning what kind of relationship China wants to have with them.

The Position Paper 2023/2024 details the challenges faced by European companies operating in China and provides more than 1,000 constructive recommendations to the Chinese Government on how they can be resolved. It provides a blueprint for attracting and retaining foreign investment in China, while also addressing many of the structural issues that are hindering the country’s economic development. By engaging with European companies to solve the issues outlined in this report, the Chinese Government could begin to restore both business confidence and the allure of the Chinese market.

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