Majority of Chinese medium-sized firms upbeat on 2023 business growth: HSBC survey

BEIJING -- The majority of China's medium-sized firms are optimistic about their business expansion in 2023, a report by global financial institution HSBC showed.

Some 77 percent of the surveyed Chinese medium-sized firms expected business revenue growth next year, the report said.

For these firms, the efficiency improvement from technological innovation and the continued growth in domestic demand will be the two main drivers of business growth.

About 75 percent of the surveyed Chinese medium-sized enterprises plan to expand into new overseas markets, according to the report.