While economic growth is close to zero in many parts of the world, China shows clear signs of recovery and is committed to deliver around a five per cent GDP increase in 2023. As one of the growth pockets of the world this year, it is troublesome that many Swedish companies in the market indicate that they will grow slower than their respective industries, meaning that they are effectively losing market shares.
The past three years’ Covid-19 development and management have negatively affected the attractiveness of the Chinese market. Many companies mention an increased awareness of risks and unpredictability in the post-pandemic Chinese market, especially when it comes to policy.
Challenges aside, Swedish companies are still excited about the Chinese market. Respondents see market size, potential, and GDP growth as the key external drivers of business opportunities in the country, and Brand Sweden continues to bring value to Swedish business in China, especially in the consumer sector. Leveraging the country of origin continues to be a valid strategy for Swedish companies in China.
Please download the report to fully overview the results with a detailed analysis.
ABOUT THE SURVEY
The Business Climate Survey for Swedish Companies in Mainland China 2023 is an initiative by Team Sweden in China. The survey is published regularly in several markets across the world. In mainland China, the survey has been carried out since 2000. The purpose of the survey is to better understand the performance of Swedish companies, the challenges and opportunities they face, as well as their outlook in the Chinese market.
The companies participating in this survey are either headquartered in Sweden, have Swedish shareholders or owners, are part of a Swedish conglomerate, or have other significant affiliations to Sweden.
The 2023 survey was conducted among member companies of the Swedish Chamber of Commerce in China between 9-31 March 2023. The response rate was 53 per cent, with 100 out of 187 eligible companies responding to the survey.