Nine out of ten senior financial executives at foreign companies with businesses in China confirm plans to expand operations in the country over the next three years, despite a persistent recession worldwide, a survey released in Hong Kong Monday shows.
The survey, released by professional services organization Deloitte Touche Tohmatsu and CFO Asia magazine, provides compelling evidence that international companies see China as the key world growth market as the global economy moves toward recovery.
Results show that despite a slowing global economy, nine in ten foreign companies already operating in China intend to invest in expanding their Chinese businesses. Already, six in ten companies not yet operating in China see the mainland market increasing in importance within the next three years.
The planned expenditure of the 680 respondents, primarily senior financial executives from 680 companies in Asia, Europe and North America, amounts to some 4.5 billion U.S. dollars annually for the same period.
"Conducted in October and November 2001, the survey also illustrates the tremendous attraction the China market holds for North American companies," said CFO Asia Editor-in-Chief Tom Leander.
"One key finding was that 76 percent of U.S. respondents indicated that their China investment plans had not been affected by September 11," he said.
(Xinhua News Agency March 12, 2002)
