CEOs in China are optimistic about global growth in the next 12 months, despite contraction in world economy in 2020 due to pandemic.
Modest share of executives in Mainland China are “very confident” of their company’s revenue growth prospects despite global economic slowdown, supported by favourable policy measures.
Executives in China turn to Japan, Germany, and USA for overseas growth opportunities.
In China, pandemic threat overshadows concerns over trade tensions and policy uncertainty as key business threats.
Threats explicitly factored into strategic risk management activities.
Cross-border investment is being directed to Asia- Pacific, Belt and Road countries or regions and the European Union.
Firms are driving revenue growth in the next 12 months by building operational efficiencies, launching a new product or service, and pursuing organic growth. Entering into a new strategic alliance/joint venture does not appear to be a priority for executives in Mainland China as well as globally.
Long-term investments in the next three years focus on R&D and new product innovation, digital transformation and realising cost efficiencies.
Innovation, workforce practices, purpose and values were the top three areas of impact to be measured and reported on.
Executives in Mainland China were of the view that “greater income equality”, “the good health and well-being of the workforce” and “a diverse and inclusive workforce” were the top three outcomes that should be the priorities for business to help deliver.
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