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1、1 Business Confidence Survey 2017/18 German Business in China 2017/18 Business Confidence Survey 2 German Business in China 3 Business Confidence Survey 2017/18 GERMAN CHAMBER OF COMMERCE IN CHINA BUSINESS CONFIDENCE SURVEY 2017/18 Since 2007, the German Chamber of Commerce in Chinas business confid
2、ence survey has been a key gauge for measuring the business sentiment of German companies operating in China. As of 2017 the German Chamber of Commerce in China has approximately 2,400 member companies, representing about 50% of German companies operating in China. This years survey was conducted be
3、tween August 21st and September 29th 2017. In total the survey comprised 58 questions, focusing on business outlook and performance, market conditions and investment climate, as well as the Belt and Road Initiative. The survey was conducted online among member companies in China. After controlling t
4、he dataset for quality, 423 valid responses were collected, resulting in a representative and statistically significant sample for the analysis of German companies in China. 4 German Business in China ContentsProfile of Responding Companies 7 Economic and Business Outlook 11 Market Environment, Refo
5、rms and Policies 15 Business Challenges 21 Investment Prospects 27 Research and Development 32 Belt and Road Initiative (BRI) 34 5 Business Confidence Survey 2017/18 EXECUTIVE SUMMARY BUSINESS CONFIDENCE SURVEY 2017/18 Economic and Business Outlook German companies economic outlook has recovered fro
6、m the low forecasted in 2016. Especially machinery/industrial equipment, as the largest German industry in China, evaluates 2017 as positive for the own industry and significantly better than last year. Automotive and business services keep up last years level with optimism for 2018. Nearly two thir
7、ds of German companies in China expect to exceed or achieve their business targets in the current year, with a similarly positive outlook for 2018. Turnover growth sees a strong rebound and the majority expects turnover and profit to increase next year. However, companies remain cautious regarding i
8、nvestment and employment. Despite improvements in the current year and positive expectations for 2018, the share of companies increasing investment and employment is not projected to reach the high levels of 2014 and before. Investment increases are to a large extent driven by the automotive industr
9、y. Market Environment, Reforms and Policies Overall, the Chinese market is not as significant to German companies as it was a few years ago, but the trend is pointing upwards again. Nearly 40% of German companies feel less welcome than before, but the vast majority has no plans to leave China in the
10、 near future. The economic reforms of the last years tend to be welcomed by German companies, but the initial enthusiasm has faded even more. The majority of respondents finds that reforms in the wake of the Third Plenum in 2013 had no notable impact on them. Of the more recent policies, nearly 40%
11、of German companies attest a negative impact to the restriction of capital flows. The impact of the Made in China 2025 strategy on their China operations is seen positively by approximately half of respondents over the next five and ten years. Bilateral relations play an important role for German co
12、mpanies in China: 58% of respondents find bilateral relations extremely relevant or very relevant for their future business. More than half consider market access and a level playing field for foreign business in China urgent for the newly formed German government to act upon. Business Challenges In
13、ternet and HR issues constitute the Top 5 business challenges of German companies in China. Internet issues are more pressing than ever, two thirds struggle with slow cross-border internet speed and internet access restrictions. HR issues have consistently been among the Top 5 challenges over the ye
14、ars. A lack of qualified staff and increasing labor costs are a problem for nearly 80%. There is a great deal of uncertainty regarding the new Cybersecurity Law among German companies: one in three companies is unsure about the impact on their business activities in China while one in five expects a
15、 negative impact. 6 German Business in China Domestic competition ranks 6th among the business challenges which is underlined by the increasing innovation capacity of Chinese companies. More than 40% of respondents expect Chinese competitors to become innovation leaders within five years. For the fi
16、rst time, this share is higher than the share of respondents who think this scenario is unlikely. Preferential treatment of local companies, IPR issues, administrative hurdles and legal uncertainty also rank among the Top 10 business challenges of German companies. Nearly half of German companies have encountered legal or regulatory obstacles in the past year, with custom issues most prominent. More than one in three companies has found it more difficult to obta
