Mainland execs more optimistic this year

Source: Xinhua | 2017-03-03

CHINESE mainland business executives are more optimistic about their companies’ revenue growth amid a global recovery and opportunities emerging from the Belt and Road initiative, PricewaterhouseCoopers said yesterday.

PwC found 33 percent of 182 business executives, covered by the China part of its global CEO survey, said they are “very confident” about the outlook of their companies’ income in the next 12 months, up from 25 percent last year.

“Despite turbulence in 2016, the Chinese mainland’s chief executives ... are more confident of opportunities for growth over the next 12 months,” said Siu Fung Chan, PwC China consulting partner.

Meanwhile, 31 percent of China’s executives said they believe the global economy will improve over the next 12 months, higher than the global level of 29 percent.

But they picked uncertain economic growth, access to affordable capital and overregulation as three top concerns or risks that threaten companies’ earnings.

Nearly 60 percent of the mainland executives expect investment opportunities to emerge from the Belt and Road initiative, especially in infrastructure development.

The initiative was proposed by Chinese President Xi Jinping in 2013, with visions to connect Asian, European and African countries more closely and promote mutually beneficial cooperation.