Half of European companies believe that the "golden age" for multinational companies in China has ended, according to the 2014 European Business in China Business Confidence Survey, conducted by European Chamber of Commerce in partnership with Roland Berger Strategy Consultants.

Of the 552 companies studied, the increased difficulty of doing business in China is felt more strongly by large firms, the ones that have more than 1,000 employees, and those that are veterans, with over 10 years' experience in China, with 68 percent and 61 percent respectively admitting that doing business in China has become more difficult in the past year.

Due to the slowdown in 2013, only 57 percent plan to expand their current China operations, which are already down from 86 percent last year.

The survey estimated that European Chamber member companies lost $29 billion in revenue due to market access and regulatory barriers in 2013.

However, reforms present an opportunity for European companies with 45 percent believing that the Third Plenum reforms will be good for their firm.

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