About 33 percent of Chinese companies surveyed reported a deterioration in the business environment within the European Union in 2023, according to a report released by China's top foreign trade and investment promotion agency on Sunday.

The Business Environment of the European Union 2023/2024 report, conducted by the academy of China Council for the Promotion of International Trade, found a number of key issues identified include a further rise in EU protectionism, coupled with some member states promoting the concept of "de-risking".

Some EU member economies have developed a toolkit of protectionist policies, which have made it more difficult for foreign companies to invest, merge, acquire or participate in public procurement within the EU, said Zhao Ping, spokeswoman for the Beijing-headquartered CCPIT.

Moreover, unsubstantiated anti-subsidy investigations have been initiated, disrupting collaboration along industrial and supply chains, and consequently, limiting the normal production and business operations of Chinese companies within the EU, said Zhao.

Chinese companies have called on the EU side to provide a fair and transparent business environment for foreign businesses operating in its market, recognizing the positive contribution of foreign enterprises to the EU's economic growth, according to the report.