Summary of Findings
The 2025 survey results may be summarized by the following key insights:
- Over a 5-year time horizon, Swiss companies are on average more confident than they were a year ago despite low sales growth and shrinking margins.
- Long-term confidence is matched by stable investment intentions, with about 50% of respondents identifying China as a top-3 market for investment. This is the case both for managers of subsidiaries and those at headquarters. (See Section 2.1 for more details on these two points.)
- The competitors of Swiss companies—mostly Chinese private companies—are closing the innovation gap.
- The competitive environment has changed dramatically over the last three years with Chinese companies increasingly competing on quality, technological innovation, and brand recognition. (See Sections 2.2 and 2.3 for more information on Chinese competition and Section 3.3 for more on the R&D and Innovation results).
- With the exception of increasing Chinese pressure to produce locally, Swiss companies describe a more level playing field. They also have more confidence that they can win legal disputes in China.
The majority of legal issues faced by Swiss companies relate to IP infringements. (See Section 2.4 for more on the regulatory environment and Section 2.5 for details on legal issues and IP infringements.)