The “Survey Report on the Development of Chinese Enterprises in 2024” published by the China Chamber of Commerce in Belgium and Luxembourg provides valuable insights into the latest developments, trends, and challenges faced by Chinese enterprises in 2024. It aims to support business leaders and stakeholders in making informed decisions and fostering a better understanding of the evolving business landscape.
In the post-pandemic era, global economic growth momentum is weak, with major economies struggling to grow, regional hotspots emerging frequently, and the Russia-Ukraine and Israel-Palestine conflicts maintaining high tensions, leading to increased complexity, severity, and uncertainty in the international environment. In 2023, Sino-Belgian economic and trade relations developed steadily. The bilateral trade volume reached €41.5 billion. In terms of investment, Chinese companies invested in 13 projects in Belgium, ranking 5th among all sources of investment.
Meanwhile, Chinese enterprises are facing numerous challenges. The annual survey reveals that in 2023, 56% of surveyed companies achieved year-on-year growth in operating revenue. 50% of companies reported profits, a 9 percentage point decrease compared to the previous year. Half of the surveyed companies approved of the business environment in the countries of presence. 29% of companies believed that the business environment in the countries of presence has deteriorated slightly compared to the previous year. Labor costs, tax burdens, labor policies, market access, and regulatory supervision are the top 5 factors affecting corporate production and operations.
Members of the Flanders-China Chamber of Commerce can obtain a copy of the report by sending an email to info@flanders-china.be
