The department of commerce of Zhejiang province and global consulting giant PricewaterhouseCoopers (PwC) on Oct 25 jointly released a report on the current operation situation, future business plans, major difficulties and challenges faced by foreign-funded enterprises in Zhejiang.

PwC's Digital X-space - the first digital experience center established by the company in China - was also officially opened in Hangzhou on the same day.

The opening ceremony of PwC's "Digital X-space" in Hangzhou. [Photo/Zhejiang Daily]

According to the report, 98 percent of the enterprises polled said they would maintain or increase their business scale, and 43 percent of foreign-funded enterprises said they would increase their investment. The report also states that Zhejiang's development prospects and its excellent business environment are the key reasons why multinational enterprises would set up offices in the province.

Feng Hao, partner of PwC China digital and technology consulting, said: "In terms of the digital process, nearly 60 percent of foreign-funded enterprises are considering or are taking digital measures, and 30 percent of the enterprises are developing and have already developed digital investment plans. This is a great opportunity. PwC will use its professional skills to help the digital reform of enterprises."