Confidence down on revenue outlook
Print Edition
CHINESE CEOs are less confident about the revenue outlook over the next 12 months as tough market competition, speed of technology changes and shifts in consumer behaviors pose challenges to corporate earnings, PricewaterhouseCoopers said yesterday.
The China report of PwC’s Global CEO survey found 25 percent of the 145 respondents express confidence in their company’s revenue growth over the next 12 months — 11 percentage points lower than last year.
A total of 90 percent said new entrants to the market, especially from the Internet sectors, posed a challenge that could affect their organizations’ growth prospects.
Fast changes in technology and consumer behaviors were the other two big challenges.
The China survey result was slightly lower than the global survey that found 27 percent of the 1,400 CEOs express confidence over earnings.
The United States overtook China for the first time as the top growth market for global CEOs amid slowing Chinese economic growth.
But over a longer term, 34 percent of Chinese business leaders said they were confident about the growth prospects over the next three years, believing that the major economic transformation China was undergoing will bring sustainable growth.
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