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A recent survey jointly conducted by the European Union Chamber of Commerce in China (EUCCC) and Roland Berger Strategy Consultants GmbH found that most European companies see bright prospects for their China operations, in spite of a marked economic downturn here. The survey covered 313 European companies across China in a variety of sectors ranging from industrial goods to professional services.

As many as 46 percent of the respondents believed that the Chinese economy will put the worst behind it by the first half of 2010 as a result of the government stimulus package, while 19 percent said the economy will take a turn for the better in the first half of 2011. In striking contrast, most of them were convinced that no turnaround would occur in other markets until the first half of 2011.

EUCCC President Joerg Wuttke said in a statement that its members welcomed the stimulus package and the Chinese Government's efforts to sustain economic growth, adding that China was a bright spot in the global economy and its economy would rebound more quickly than the rest of the world.

Given the phenomenal rebound in domestic investment and consumption, the likelihood of a further downturn in the Chinese economy now appears to be remote. An outpouring of bank lending has added to the growth momentum already in evidence. Meanwhile, hints of bottoming out are starting to surface, as stock markets and real estate markets have both staged a remarkable comeback in past months.

In June, the World Bank revised upward its forecast of China's economic growth rate this year to 7.2 percent from the previous 6.5 percent. The country's expansionary fiscal and monetary policies have kept the economy growing respectably, the bank said in a report.

In addition, 71 percent of survey respondents believed that their home markets had been more strongly affected by the crisis than China.

The survey revealed that 37 percent of the polled companies pointed to China as a key market in their global strategy to offset the blow elsewhere, and 24 percent of them had even set higher sales targets in China this year in comparison with last year.

According to the survey, some 65 percent of respondents remained optimistic about the growth of their businesses in China over the next two years. It represented a decline from an 83-percent high in last year's survey, mirroring a degree of cautiousness amid downturns.

"European companies are bullish on China's long-term economic outlook and are positioning themselves for continued growth in this market," Wuttke said.

(Xinhua News Agency contributed to this report.)