GUANGZHOU, Feb. 25 (Xinhua) -- The American Chamber of Commerce in South China on Monday said its members, mostly foreign-funded multinational companies, have increased their reinvestment budgets in China this year.
According to the chamber's annual white paper on China's business environment and a special report on the state of business in southern China, 240 surveyed companies have increased their 2019 China reinvestment budgets from profits by a whopping average of 37.9 percent over 2018.
Half of the respondents see the Chinese mainland as their top investment destination with Guangzhou being voted the most preferred city for investment for the second straight year among 35 cities across the country, it said.
Return on investment in China in 2018 is considered to be high with 80 percent reporting very positive or positive return on their investment.
Confidence in southern China's economic development remains high with 72 percent rating the business environment in South China as "good" to "very good."
Meanwhile, 80 percent remain optimistic toward the future development of the Guangdong-Hong Kong-Macao Greater Bay Area. Continued government backing, infrastructure support and regional economic development are generally considered the top three factors to success, it said.
With more than 2,300 members, AmCham South China provides dynamic, on-the-ground support for American and international companies doing business in southern China.
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