The German Chamber of Commerce in China is presenting its annual business climate survey for 2023/2024 this Wednesday. The report provides information about how German companies are doing in China. The world’s second largest economy is an extremely important sales market and production location for many companies from Germany. Hundreds of companies of various sizes from different industries usually take part in the survey.
The Chinese market has changed significantly in recent years. In the post-Covid year 2023, the economy of the country with around 1.4 billion inhabitants grew by 5.2 percent, exceeding the ruling Communist Party’s target of 5.0 percent.
However, according to experts, growth could be lower this year. In addition, a real estate crisis, weak foreign trade figures and the Chinese people’s declining consumer mood have put pressure on economic performance in recent months. Many German companies therefore have to adapt to the changed environment. (dpa)