Download Press release: China's Economic Survey 2016

China’s economic outlook positive, driven by innovation
New survey data from CPA Australia shows business professionals in China have a positive outlook on the nation’s
economy and are confident their own businesses will perform well in 2016, with policies that encourage innovation
contributing to their optimism.
The annual economic sentiment survey reveals more than half of respondents (56 per cent) expect China’s GDP to
grow by 6.5 per cent or more, with respondents most likely to expect the economy to expand by 6.5 to 6.9 per cent.
Kevin Ng, North China Committee President of CPA Australia, says the survey results indicate that China’s
business leaders are cautiously optimistic about the year ahead.
“Despite a slowing growth rate, China’s economic growth is still at a healthy level when compared to other
countries.
“Though fewer respondents believe that China’s economy will grow by 6.5 per cent or more in this survey than last
year’s survey, more respondents are optimistic to very optimistic about China’s economic outlook.
“More than half of respondents (51 per cent) declared some form of confidence in next year’s economy, while only
11 per cent have a pessimistic view. More than half (55 per cent) of respondents expect the revenue they generate
in China to increase in 2016, nearly half (48 per cent) expect to increase their headcount in China and 50 per cent
expect to increase capital expenditure in China in 2016.
“These results indicate that people in China increasingly understand the ‘new normal’ with regards to economic
growth and still see it as a positive with significant new opportunities emerging, particularly for companies that are
focused on innovation, quality and overseas expansion.
“The Government appears to be genuinely committed to making a serious and sustained contribution to creating a
culture of innovation in China.
The results of our survey show that policies increasing the funding available to innovative businesses, providing tax
relief for qualified companies and improving the regulatory system to simplify business administration and
registration will support growth in entrepreneurship and innovation.”
Mr Ng said new market opportunities were also fuelling optimism.
“There is real confidence in an innovation-led economy and the potential of expansion of markets,” Mr Ng said.
“The Belt and Road Initiative is very significant in that it will boost development of vital export infrastructure like
roads, rail and ports within China and create exporting opportunities in emerging markets like Myanmar and further
west into the heart of Europe.
“The China-Australia Free Trade Agreement is also important. In the final stages of formal ratification, this new
flagship trade pact will enter into force on 20 December 2015 and will create significant opportunities for
businesses in both countries.”
The China Economic Sentiment Survey provides annual insights into the economic sentiments of finance and
accounting professionals from listed companies, multinational corporations, private enterprise, government and
not-for-profit organisations.
About CPA Australia
CPA Australia is one of the world’s largest accounting bodies with a global membership of more than 155,000
members working in 120 countries around the world. It has established a strong membership base of more than
15,000 in the Greater China region. CPA Australia works with local and international bodies to represent the views
and concerns of the profession to governments, regulators, industries, academia and the general public. Core
services to members include education, training, technical support and advocacy.
-ENDSMedia contact:
Racepoint Global
Heather Wang
Tel: +86 21 5169 2005 Ext 109 / 86 182 2192 1881
E-mail: [email protected]
Jeanne Ma
Tel: +86 21 5169 2005 Ext 114 / 86 137 6477 4086
E-mail: [email protected]
CPA Australia
Carmen Pan
Tel: +852 2202 2722
Email: [email protected]