The German Chamber of Commerce in China just released its 2024 Flash Survey, saying business confidence is returning to its member companies after a challenging few years due to the pandemic and other external factors.

The survey covers nearly 190 member companies and shows the business outlook is recovering. The report also notes that German companies are concerned about price pressure as a result of intense competition. Around 39 percent of companies project their turnover will increase in 2024 compared to last year. However, only 25 percent expect profits to increase by the end of this year. The survey shows nearly 40 percent of respondents expect improvements in China's economy over the coming six months, and over 90 percent of the companies surveyed do not have plans to leave China.