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Confidence appears as key word in survey
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Investment professionals are more confident about the global economic recovery and believe the Chinese economy will be resilient next year, the CFA Institute said in an industry survey yesterday.
Globally, 63 percent of the 6,500 CFA respondents expect the world economy to expand next year, up 23 percentage points from last year’s survey, the institute said.
The Chinese mainland accounted for 162 of the respondents.
Also, 45 percent of the mainland respondents predicted China’s economy to expand next year, 1 percentage point higher than last year.
Equities are expected to be the most profitable asset class followed by commodities and precious metal, the survey found. China provides the second best investment opportunity in equities after the US.
Respondents also called for better corporate governance practices and enforcing existing laws and regulations strictly to improve market integrity, the survey found.
In China, 43 percent of the respondents cited a lack of corporate ethics for the absence of trust in the financial sector, while 17 percent blamed a lack of government enforcement.
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