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CEOs say they are confident: PwC poll

(China Daily)

13:50, November 08, 2011

BEIJING - More than half the CEOs in the Asia-Pacific region are "very confident" of increased revenue for their companies over the next three to five years, despite the ongoing economic turbulence in Europe and the United States, according to a survey from the international accountants, PricewaterhouseCoopers (PwC).

The number is slightly higher than that registered a year earlier, said the survey that covered more than 320 CEOs across 26 countries, including the 21 Asia-Pacific Economic Cooperation (APEC) economies. The poll was specifically conducted ahead of the APEC CEO Summit to be held this coming weekend in the US.

More than 40 percent of those surveyed say the single greatest opportunity for growth will stem from the rise in consumer spending power in Asia, particularly in China.

"Those investing in China are directed toward access to the consumer markets, while a new wave of investment is also flowing to expand footholds in China's evolving marketplace for services," said Frank Lyn, PwC's China Markets Leader.

The survey shows that close to one-third of investments will build a research and development, managerial or financial presence in China. And more than 40 percent of planned investment, both by domestic and non-Chinese companies, are targeted at the country.

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