British Chamber of Commerce in China publishes eighth annual Sentiment Survey, with over 300 companies participating

中国英国商会发布第八份年度《在华英国企业：2025–26年度商业信心调查报告》，收录了300余家在中国大陆运营的英国企业观点

The British chambers of commerce in China have published the 2025–26 Sentiment Survey, capturing the views of more than 300 British businesses operating across the Chinese mainland. The survey comes at a moment of economic uncertainty, increased geopolitical complexity and renewed UK–China government engagement.
This year’s findings show that operating conditions remain difficult for most firms, but optimism for 2026 has risen to its highest level since before the pandemic. Several sectors aligned with China’s policy priorities report a stronger outlook, while others continue to face structural challenges.

中国英国商会发布第八份年度《在华英国企业：2025–26年度商业信心调查报告》，收录了300余家在中国大陆运营的英国企业观点。报告发布之际，全球经济前景仍不明朗，地缘政治环境复杂多变，中英政府间的对话与合作正在稳步恢复与推进。

今年的调研结果显示，尽管大多数企业认为营商环境依旧艰难，但对2026年的市场前景信心已回升至疫情前最高水平。一些与中国政策重点高度契合的行业展望向好，而部分领域仍面临结构性挑战。

“British businesses go into 2026 against a backdrop of geopolitical tensions, ongoing US–China negotiations and a stubbornly sluggish domestic Chinese economy,” said Chris Torrens, Chair of the British Chamber of Commerce in China. “Yet sentiment is at its highest since before COVID-19, with sectors such as healthcare, legal and financial services, creative industries and sport reporting markedly improved outlooks.”
“英国企业步入2026年时，面临着地缘政治关系复杂、美中经贸谈判持续以及中国国内经济复苏缓慢等多重挑战。然而，企业整体信心已已恢复至新冠疫情前的高位，其中医疗健康、法律与金融服务、创意产业及体育等行业，市场展望改善显著。”

Key Takeaways 主要发现

Operating conditions remain difficult

Nearly 60% of companies report that the business environment became more difficult this year, marking the sixth consecutive year of deterioration. Education, manufacturing and parts of the built environment are among the hardest hit.

Revenue expectations show improvement

38% of firms expect higher revenue in 2025, up from 33% last year, while 28% expect lower revenue, consistent with 2024.

Optimism rises for 2026

Companies are more optimistic about 2026 than any year since before COVID-19. Improvements are concentrated in legal and financial services, healthcare, creative industries and sport.

营商环境仍然严峻

近60%的受访企业表示过去一年在华营商环境进一步艰难，这已是连续第六年出现“更难做”的反馈。教育、制造业及部分建筑及相关服务领域承压尤为明显。

营收预期有所改善

38%的企业预计2025年在华收入将高于2024年，高于去年的33%；预计收入下降的企业占28%，与上一年持平。总体来看，企业对营收的预期较上一年出现一定改善。

对2026年的乐观情绪上升

企业对2026年的总体展望为疫情以来最为乐观的一年。法律及金融服务、医疗健康、创意产业和体育等行业信心改善最为突出，与中国“走出去”、大健康和消费升级等政策导向密切相关。

Investment remains steady

Around one third of firms plan to increase investment in 2025–26, slightly more than last year, and most will maintain current levels. Only a small minority plan reductions.

投资整体保持稳定

约三分之一的企业计划在2025–26年度增加在华投资，比例较去年略有上升，大多数企业计划维持现有投资规模，仅有少数考虑缩减。整体上呈现“稳中有升”的投资态势，而非大规模撤资。

就您的机构所在行业明年在中国大陆的商业前景，您有什么样的预期？

Firms are adapting rather than divesting

Businesses report stabilisation in several areas and are finding opportunities in:
• expanding into lower-tier cities
• collaborating in healthcare and life sciences
• supporting Chinese companies going global
• capitalising on renewed demand for sport, entertainment and experience-based consumption

UK–China engagement is beginning to make a difference

Following the 2025 Economic and Financial Dialogue and JETCO, companies report clearer regulatory pathways, improved predictability in legal and financial services, and better channels for interpreting policy developments.
A potential UK Prime Ministerial visit in early 2026 is expected to reinforce this positive momentum.

企业在调整中寻找机遇，而非撤出市场

面对压力，企业更多选择业务调整和结构优化，而不是退出中国市场。部分企业通过：

· 深入布局二三线城市，挖掘本地化消费潜力

· 在医疗及生命科学领域加大与本土伙伴的合作与投入

· 协助中国企业“走出去”，在跨境投融资、合规和品牌出海方面提供服务

· 把握体育、娱乐及体验式消费复苏所带来的新机会

中英互动开始对营商环境产生积极影响

在2025年中英经济财金对话（EFD）和中英经贸联委会（JETCO）重启之后，部分企业尤其是法律和金融服务机构，感受到监管路径更加清晰，政策沟通渠道更加顺畅。企业反馈称，相关工作组和常态化沟通机制，有助于理解政策变化、反映实际经营问题。预计如2026年初英国首相实现访华，将有望进一步巩固这一积极势头。

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What this means for British business
对在华英国企业意味着什么

While China remains a complex and highly competitive market, many British firms continue to see opportunities where their capabilities align with China’s development priorities. The survey highlights uneven conditions across sectors but shows that those positioned in services, healthcare, sport and creative industries are seeing a stronger outlook.

Growing engagement between the UK and China is also helping to rebuild confidence by providing clearer routes to address operational and market access challenges.

总体来看，中国仍是一个复杂且竞争激烈的市场，盈利难度不小，但并非缺乏机会。调查显示，那些能力与中国发展优先领域高度匹配的英国企业，依然能够找到增长空间，尤其是在专业服务、医疗健康、体育及创意产业等领域。

随着中英政府间务实对话不断推进，企业对政策可预期性和问题反馈渠道的信心有所提升。如何在把握合作机会的同时有效管理风险，将成为在华英国企业在2026年的关键课题。

Find out more
了解更多

Scan the QR code below or click “Read More” to access the full British Business in China: Sentiment Survey 2025–26.
扫描下方二维码或点击“阅读原文”，获取《在华英国企业：2025–26年度商业信心调查报告》全文。

For hard copies or more details about the survey and our advocacy work, please contact:
如需了解更多信息或获取纸质报告，请联系：

advocacy@britishchamber.cn；sampu@britchamswchina.org

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The report was presented to the Department for Business and Trade in a special pre-briefing. With over 300 responses to our survey, spanning Business Environment and Investment Outlook to Supply Chains, the Chamber’s team provided sector specific insights for the Embassy team on the key concerns, market access barriers, and areas for collaboration that British businesses report exist for their operations in China. Thank you to DBT and the British Embassy Beijing team for your continued support!