Zhang Yang

    nicolezyyy@163.com

    NEARLY 60 percent of China’s executives saw investment opportunities emanating from the “Belt and Road” initiative, according to a report released by PwC on Thursday.

    The China report of the 20th Global CEO survey conducted by PwC reveals that 58 percent of China’s executives are considering the “Belt and Road” initiative as a key part of their companies’ business expansion in the future, as they saw investment opportunities in “Belt and Road” countries.

    The survey also finds that 33 percent of senior business executives from the Chinese mainland and Hong Kong are “very confident” about their companies’ prospects for revenue growth over the next 12 months, increasing from 25 percent in 2016.

    China’s executives are more positive than their peers in other countries about global economic growth over the next 12 months, and they consider Beijing, Shanghai and Hong Kong as the most attractive cities to their companies’ overall growth prospects in the coming year, whereas New York and Singapore are ranked in fourth and fifth, respectively.

    Meanwhile, China is considered as the second most attractive investment place in the world by global executives over the next 12 months, following the United States.

    The survey also notes that the labor market is facing a mismatch of demand and supply. Nearly 60 percent of executives in China expect to increase their headcount in the coming year. But 85 percent are worried that they may find it “somewhat” or “very difficult” to recruit people with creativity and innovation, leadership and problem-solving skills.

    Charles Chow, Shenzhen Office Lead Partner of PwC China, said companies in China are leading the world in the application of technology by adopting and prioritizing digitization in order to capture economic and productivity benefits. “Nearly half of the respondents in China believe that technology is to be used to improve people’s well-being,” he said.

    “But China’s CEOs also have serious concerns on cybersecurity and data privacy breaches. Given the lack of trust in the digital age, companies will have to build and sustain stakeholder trust and confidence through actions such as enhanced management of cybersecurity, digital and data risks,” said Chow.

    PwC interviewed over 1,300 executives from 79 countries across a range of industries between September and December last year for the survey, which was built around the theme — Technology, Globalization and the CEO. The survey’s China report presents the views of 182 executives based in the Chinese mainland and Hong Kong.