英国在华商业信心调查报告 2025–2026

2025–2026 CONTENTS CHAIRS’FOREWORD4EXECUTIVE SUMMARY6METHODOLOGY8ORGANISATIONAL PROFILE10BUSINESS ENVIRONMENT AND INVESTMENT OUTLOOK14REGIONAL BREAKDOWN24SECTOR BREAKDOWN26REGULATORY CHALLENGES34POLITICAL AND ECONOMIC TRENDS46SUPPLY CHAINS50LOCALISATION AND DIVERSIFICATION54TALENT AND INTERNATIONAL TRAVEL60ABOUT THE BRITISH CHAMBER OF COMMERCE IN CHINA63 CHAIRS’FOREWORD The British chambers ofcommerce in China are proudto publish the eighth annual business sentiment survey.This report, based on responses from over 300 Britishbusinesses operating in China, provides insights into thecurrent mood among businesses on the ground, highlightsthe opportunities coming down the track in 2026 andunderscores the challenges still facing firms operatingwithin the world’s second-largest economy. Continued government-to-government engagement willboth strengthen bilateral trade and improve the operationgenvironment for British business in China. As UK PrimeMinister Sir Keir Starmer noted in his Mansion Housespeech in December 2025,“the scale of the opportunity inChina is immense. Our task is to help British businesses wintheir share of that opportunity in a way that is safe for ourcountry.And I know that after the chopping and changingfrom previous governments, businesses need predictabilityfor the long term. They deserve predictability.” British businesses go into 2026 against a backdrop ofgeopolitical tensions, ongoing US-China trade negotiationsand a sluggish domestic economy that stubbornly refusesto respond to stimulus. Yet we are heartened to see thatsentiment across the British business community is at itshighest since before the pandemic, with some sectors –healthcare, legal and financial services, creative industries,sport – reporting markedly improved outlooks. Strengthening bilateral relations comes at an opportunetime. China is seeking both to reinvigorate its economy inthe short term and achieve key economic objectives in thelonger term. The 15th Five-Year Plan (2026-2030) sets outChina’s strategic priorities and highlights the opportunitiesfor British businesses that are aligned with national goals:sustainable development, domestic economic growth,technology and healthcare. Foreign direct investmentby British and other companies constitutes an importantpart of that economic growth plan. Such positive sentiment is testament to the UK’s policy ofconsistent, pragmatic engagement with China, supportedby regular visits to the country by senior governmentofficials which have created a platform for meaningfuldialogue. In particular, the resumption of the Economic andFinancial Dialogue (EFD) and the Joint Economic and TradeCommittee (JETCO) in 2025 - after gaps of six and sevenyears respectively - have directly led to improved marketaccess for British legal and financial services companies.Such high-level meetings have also led to the creation ofkey mechanisms for British businesses to connect withChinese government over key regulatory issues, such asthe Services Working Group. China’s domestic consumption, a key component of thenational economy, shows no signs of returning to theheady days of pre-pandemic spending – meaning moretough times for luxury goods companies and high-endbrands. At the same time, changing demographics anda shrinking population are already having an impact ineducation – a key area of UK excellence – in the form ofreduced intakes for international schools. Yet new opportunities are emerging as Chinese consumerstransition from buying big-ticket or luxury items toexperience spending, with benefits for British firms in thecreative industries, sport and wellness. In the longer term,China’s strategic priorities play well to British companiesat the forefront of multiple sectors such as technology,healthcare and energy. CHRIS TORRENSBritish Chamber of CommerceChina British business is also well placed to benefit fromthe growing momentum in Chinese outward directinvestment. British law firms, financial institutions andother professional services companies are providingconsulting and advisory support to a growing numberof Chinese private companies as they expand into the UKand other international markets. KIRSTEN JOHNSTONBritish Chamber of CommerceShanghai The British chambers of commerce in China remain strongadvocates of pragmatic and productive trading relationsbetween the UK and China. Our work as the independentvoice of British business in China is to support, share andadvocate for our members. We believe that this sentimentsurvey provides a candid assessment of both the difficultiesand opportunities facing British business on the ground,as well as helping inform continuing government-to-government discussions and so strengthen our bilateraltrading partnership. MARK CLAYTONBritish Chamber of CommerceSouth China PAUL SIVESBritish Chamber of CommerceSouthwest China 1 Not all sectors share this momentum. Education remainsunder significant strain. More respondents reporteddeclining rev