Two years Covid-19 pandemic and three years of the Sino-US trade conflict have taken their toll on Austrian businesses and added further complexity to the Chinese market. The general mood is damp and the outlook over the next few months remains uncertain. China’s ongoing self-imposed isolation from the rest of the world - with no end in sight – is starting to negatively affect businesses. However, there is a silver lining on the horizon.
Despite the major setbacks suffered during the “annus horribilis” 2020, Austrian companies in China were able to largely adapt their businesses to the new circumstances. Most of them produced respectable business figures and expect a similar upward trend for the next months. The trade conflict with the US – though still a huge challenge - is hurting Austrian companies to a lesser extent than in previous years. And: commitment to future investments in China have once again reached levels of pre-Covid times.
Generally, there remains much room for improvement. Calls for predictable economic policies, a stable political environment and legal certainty are as strong as ever. Simultaneously, the availability of raw materials, energy and labour are becoming increasingly pressing issues.
These are just a few findings of the Austrian Business Confidence Survey, which we conducted among subsidiaries of Austrian companies in China in October 2021. Its results feed into our assessment of confidence of Austrian businesses in the market and our understanding of their views, perceptions and motives. This in turn will help us tailoring our services to their needs.
Find out more details by downloading the survey below.
