European companies say ‘golden times’ may be over
Nearly half of European businesses fear their “golden times” in China are over, amid tougher business conditions in a slowing economy, according to a survey.
Of 552 businesses surveyed, 46 percent said they believe that the “golden age” for multinationals in the country has ended, according to the 2014 European Business in China Business Confidence Survey.
Only 57 percent of companies plan to expand current operations in the world’s second-largest economy, down from 86 percent last year. Onefifth of companies gave China as their top investment destination compared with one-third two years ago.
Different industries have contrasting outlooks. Healthcare companies, including those dealing in medical devices, were the most optimistic, with 88 percent saying they had a positive outlook for growth in 2014.