Results from the
Canada-China Business Survey 2022/2023

On January 25, 2024, the Canada China Business Council (CCBC) announced the results of its 2022/2023 Canada-China Business Survey, which examines the most relevant issues and areas of business for Canadian companies’ business with China and for Chinese companies operating in Canada. Conducted in partnership with the Rotman Institute for International Business, the survey was fielded from September to November 2023. This year’s survey resulted in three takeaways:

• • • Deterioration of sentiment and performance is a slow burn, with a gradual worsening in many areas. As evident from major trendlines that have emerged over the course of our last several surveys, public and corporate sentiment on China remains a tremendous obstacle; and the direction remains stagnant, if not negative.
    • It’s all about politics. The geopolitical and bilateral situations serve as a wet blanket on business, taking precedence over other more business-oriented obstacles. Travel challenges are another impediment squarely in government hands, with routes still at a small percentage of pre-pandemic levels. Companies prefer to focus on economics, but right now politics dominate the scene.
    • Bad for all, but worse for Canada. While the news is bad across the board for foreign companies in China, the situation for Canadian companies is far worse. Despite China’s economic challenges, its consumer market and demand for Canadian products and services continue to represent an opportunity for Canada, a country that relies on trade for nearly two-thirds of its GDP each year. Companies’ decreased reliance on China as a market may be logical, but for some sectors it is a forced choice, undermining Canada’s global competitiveness.

CCBC thanks Export Development Canada for partial support for this project.