Business / Economy

Chinese business leaders confident of growth, PwC survey says

By Cai Xiao ( Updated: 2016-03-25 15:19

PwC's latest survey showed that 25 percent of Chinese business leaders feel "very confident" in their company's prospects for revenue growth over the next 12 months.

It showed that 34 percent of Chinese business leaders are confident about their company's growth prospects over the next 3 years, reflecting growing confidence in the domestic economy undergoing major transformation.

"Despite experiencing economic slowdown and noted volatility in domestic and foreign financial markets, executives in China are devising strategies to drive future growth," said David Wu, PwC China's Beijing-based senior partner.

The survey was conducted between September-December 2015 and 145 executives based in China in a range of sectors were interviewed.

The top four trends transforming wider stakeholder expectation of businesses among Chinese executives over the next five years are "technological advances", "resource scarcity and climate change", "urbanization" and "demographic shifts".

Executives in China are also dealing with increased stakeholder expectations, not only regarding financial results, but also in terms of their firms' corporate strategy and inclusion of important partners, such as customers and suppliers in that conversation.

"They see a shift from a monolithic, globalizing world to a multi-polar one, which is prompting them to revisit their corporate purpose and to ensure alignment of purpose, strategy and execution," Wu said.

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