China’s economic pressures create ‘ongoing concerns’ for British firms as hardships grow

British companies operating in China have seen the business environment grow tougher for a fifth consecutive year, according to a survey published by the British Chamber of Commerce in China on Tuesday.

A majority of British firms have been reporting the same difficulties since 2019, the chamber added.

Only a third of companies anticipated that revenues would increase in 2024, a decline from 45 per cent in 2023.

However, investment levels among British companies in China have remained stable, with 76 per cent of respondents either maintaining or increasing their funding plans, the chamber said.

Meanwhile, only 8 per cent planned on cutting investment, representing the lowest level since 2021, although a record high of 16 per cent said they were unsure about future investments in China.