More CEOs in China optimistic about business growth: report

BEIJING -- More CEOs in China are optimistic about their companies' growth prospects, a private survey has showed, as the economy gained a firm footing in the beginning of the year.

Around one-third of surveyed corporate executives are "very confident" about revenue increases in the next 12 months, up from 25 percent a year ago, according to the survey by PwC.

China's Belt and Road Initiative will be a key part of their growth strategy as nearly 60 percent of business leaders believe the program will generate investment opportunities, especially in infrastructure construction.

The Belt and Road Initiative was proposed by China in 2013 and aims to become a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.

China's CEOs are also more confident about the global economic outlook than their overseas peers. Beijing has become the most important city for the development of their companies, according to the survey, followed by Shanghai and Hong Kong. New York and Singapore are in fourth and fifth place, the PwC report said.

"Despite uncertainties, business outlook of corporate executives in China is improving, and the country remains one of the world's most attractive investment destinations," said David Wu, a senior partner at PwC China's Beijing branch.

Latest signs show that the Chinese economy is firming up, with both official and private factory activity index posting steady growth. Exports and imports also staged strong rebounds.

The report showed more corporate executives believe they should invest more in innovation and digitalization to seize new growth opportunities, while acknowledging an emerging shortage of technical personnel.

The accounting firm collected opinions of 182 executives from the Chinese mainland and Hong Kong during the last quarter of 2016, mainly representing the financial services, manufacturing and retail industries.