eu business optimism in china at alltime low
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

EU business optimism in China at all-time low

Arab Today, arab today

Arab Today, arab today EU business optimism in China at all-time low

Beijing - AFP

Optimism about profitability among European companies in China has fallen to an all-time low, a survey showed on Thursday, with only 29 percent saying the outlook was positive in the world's number two economy. The statistic in the European Union Chamber of Commerce in China poll of more than 500 of its members was down from 34 percent last year and the lowest since the first survey in 2004. "Financial performance is worsening and optimism about profitability is at its lowest ebb," Davide Cucino, president of the European Chamber, said in a statement. The survey, which was carried out in March, showed 64 percent of respondents reported profitability for 2012, down from 73 percent in the previous year. The underperforming Chinese economy was a key reason dampening market sentiment as a stronger recovery had been expected, Adam Dunnett, secretary general of the European Chamber, told a press conference. "The figures that we've seen coming out of the National Bureau of Statistics... have shown... we are in for a longer haul, so I think that has caught some people by surprise that it hasn't been a sooner recovery," he said. China's economy grew 7.8 percent in 2012 -- its slowest pace in 13 years -- and registered a surprisingly weak 7.7 percent expansion in the first three months of this year, well below forecasts. Other challenges faced by European companies operating in the country included increased competition, rising labour costs and a sluggish global economy, according to the survey. The situation was exacerbated by China's limits on market access and a demanding and sometimes discriminatory regulatory environment, which led to lost revenues estimated at 17.5 billion euros ($22.7 billion) last year, said Davide.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu business optimism in china at alltime low eu business optimism in china at alltime low

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

eu business optimism in china at alltime low eu business optimism in china at alltime low

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday