(Yicai) Nov. 1 -- Around 70 percent of foreign companies do not intend to make any changes to their industrial layout in China, according to a survey taken in the third quarter.

This is an increase of 4.5 percentage point from the second quarter, indicating growing confidence in the country’s economy, according to a report released by the China Council for the Promotion of International Trade yesterday.

Around 80 percent of overseas firms expect their profits to stay flat or increase slightly this year and nearly 90 percent anticipate profits to stay the same or improve a bit in the next five years, said the report, which polled 700 foreign companies, of which 67 percent are in the manufacturing sector and 64 percent are small and medium-sized enterprises.

‘Technological innovation, research and development’ remained the biggest development opportunity in the Chinese market for overseas businesses for the third straight quarter, said Zhang Xin, spokesperson of the council. And around half are considering hiking investment in the west of the country.

Over 80 percent of international enterprises are happy with the business environment in China and more than 90 percent are satisfied with the tax rates, Zhang added. Nearly 90 percent said the processes of finding a business location, applying to install public infrastructure facilities, resolving commercial disputes, closing down the company and gaining market access are adequate.

Editor: Kim Taylor