2024 Sino Benelux Business Survey

In 2023, Benelux businesses in China navigated a complex landscape, with declining revenue growth and reduced confidence in future profitability. Initial optimism following China’s reopening was tempered by challenges like persistent salary costs and weakened pricing power, which have reshaped priorities across industries.

Despite these headwinds, profitability remained widespread, reflecting the resilience of these businesses. Bright spots, such as advancements in technology and operational efficiencies, have helped mitigate some pressures. Yet, as we look to 2024 and beyond, the outlook has grown more cautious, as companies weigh opportunities against lingering uncertainties in the market.

China continues to play a pivotal role for Benelux firms, underlining the importance of innovation and adaptability in navigating this evolving economic environment.

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What is the Sino Benelux Business Survey?

The Sino Benelux Business Survey, now in its 9th year, is a collaborative initiative led by the Benelux Chamber of Commerce and its chapters in Shanghai, Beijing, and Guangzhou. Conducted in partnership with MSA and supported by the diplomatic and trade representatives of Belgium, the Netherlands, and Luxembourg in China, the survey delivers valuable insights to the Benelux business community and other enterprises operating in China.

The survey offers comparative data on the business climate, key challenges, and emerging trends. The 2024 edition examines the performance of Benelux companies amidst China’s geopolitical, economic, and regulatory developments, providing a detailed look at their resilience and adaptability in a rapidly changing environment.

2024 Survey Results

This report presents the findings of the Sino Benelux Business Survey, conducted between May and July 2024, and shared with the Benelux community across China. It offers detailed insights into the performance of foreign businesses in China over the past year.

The 2024 survey highlights trends in business performance, the anticipated impact on revenue growth and profits, and evolving sentiment toward the Chinese market. It also sheds light on the challenges faced by foreign-invested companies and gauges the confidence of Benelux businesses as they navigate the path ahead.

How Can Your Business Move Towards Success?

For more than a decade we have supported foreign enterprises across China and Hong Kong with accounting, tax, payroll, and business set up services. With an enhanced focus on SME’s, we aim to provide the highest quality of service by focusing on all our clients’ administrative needs and helping them being more connected with their business in China.

Get in touch with us right away for a free consultation and find out how we can help you.