Small firms cautiously optimistic on 2019 outlook

China's small businesses are cautiously optimistic amid the anticipated global economic downtrend in 2019, with over 70 percent of those surveyed expecting growth this year, a survey said.

More than 50 percent of the respondents expect to increase their workforce this year, according to CPA Australia's 10th annual Asia-Pacific Small Business Survey, which was released on Tuesday. With global economic uncertainty and slowing global growth, this result reflects positively on the capabilities and resilience of China's small business sector, the survey said.

Derek Chan, president of CPA Australia North China Committee, said that the conditions for small businesses were slightly weaker across the Asia-Pacific region in 2018, with fewer respondents reporting that they grew compared to the previous survey.