The business climate in China has worsened since last year’s survey. Compared to last year, Swedish companies are somewhat more polarised in their views of how they expect the business climate to evolve over the coming three years.
Swedish companies’ financial performance was overall profitable in 2021. However, Covid-19 continued to pose challenges to international trade and the global economy, impacting Swedish companies more than expected. A majority of Swedish companies forecast a slight revenue and profit uplift in 2022 but report an overall bleaker outlook than last year.
Despite the pandemic hassle, Swedish companies are still excited about opportunities in the China market, but over half of Swedish companies experience a need to tailor operations and solutions for China.
The Swedish brand is back on trend. Companies’ perception of the positive impact of the Swedish brand has gone up significantly since last year, indicating that the image of Sweden – and more specifically Swedish businesses – increasingly well fits the current needs of Chinese stakeholders.
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ABOUT THE SURVEY
The Business Climate Survey is a study authored by Team Sweden for Swedish companies to understand the opportunities and challenges that they face when doing business in China.
This year’s survey was sent out to 177 eligible companies, resulting in 98 responses. The responses were collected between March and April 2022.