CEOs less confident about the year ahead
By Feng Jianmin |
March 16, 2012, Friday
|
Print Edition
Print Edition
MORE than half of 160 chief executive officers in China say they are less confident about business prospects this year than they were in 2011, according to a survey. Some 56 percent said they expected the global economy to decline, while the 51 percent who expected revenue to rise was 21 percent less than last year.
Around the world, 48 percent of 1,258 CEOs surveyed expected economic retreat, while 40 percent were hoping for revenue growth, according to PricewaterhouseCoopers.
Business confidence in China is still higher than in the rest of the world, with 30 percent of all CEOs naming China as their most important and most heavily invested market. The United States came second, with 22 percent.
"A positive outlook for China's domestic consumption and strong trade flows are especially attractive to foreign companies," said Nora Wu, PwC Shanghai lead partner.
Around the world, 48 percent of 1,258 CEOs surveyed expected economic retreat, while 40 percent were hoping for revenue growth, according to PricewaterhouseCoopers.
Business confidence in China is still higher than in the rest of the world, with 30 percent of all CEOs naming China as their most important and most heavily invested market. The United States came second, with 22 percent.
"A positive outlook for China's domestic consumption and strong trade flows are especially attractive to foreign companies," said Nora Wu, PwC Shanghai lead partner.
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