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Nearly 90 percent of Japanese manufacturers with overseas bases see China as the most promising business area in the medium term, the Japan Bank for International Cooperation said Friday in an annual survey.

According to the survey, 89 percent of the manufacturers chose China, up 7 percentage points from the previous year. It is the top choice for the 11th year in a row.

The survey covered some 720 manufacturers with at least three overseas units. They were allowed to choose multiple countries.

Thailand came in second with 28 percent, up from the previous year’s third position, the United States third with 26 percent, down from second, and Indonesia unchanged at fourth with 15 percent.

Of those choosing China, most cited the growth potential of its market as their reason, but many companies pointed to such problems as a lack of legal transparency.

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