A majority of Chief Executive Officers on the Chinese mainland are optimistic about the global economic prospects in the coming year, according to survey results released by accounting and consultancy firm PwC.
Despite concerns about such factors as protectionism, 73 percent of mainland CEOs believe that global economic growth will improve in the next 12 months, compared to 41 percent for their counterparts in Hong Kong and 42 percent globally, China Daily reported, citing the PwC survey.
The greater optimism of Chinese mainland executives was in part attributed to incentive measures launched by the government to encourage investment and innovation, boost consumption, and support private enterprises, the report quoted Zhou Xing, PwC north China markets leader and Beijing office lead partner, as saying.
The survey also found that 35 percent of Chinese mainland business leaders feel “very confident” in their companies’ prospects for revenue growth over the next 12 months, and 47 percent expressed such confidence over the next three years, according to the report.
It said the three most favoured destinations for outbound investments for mainland CEOs that have invested abroad and will continue to do so are the Belt and Road economies, Asia Pacific and the European Union.
Conducted during September and October 2018, the survey presents the views of 176 executives based in the Chinese mainland and Hong Kong, covering financial services, technology, communications, and entertainment and media sectors. More than 80 percent of the mainland companies surveyed posted annual revenues between 101 million U.S. dollars and 10 billion dollars.