{"id":20079,"date":"2022-01-21T01:00:00","date_gmt":"2022-01-21T01:00:00","guid":{"rendered":"https:\/\/eodishasamachar.com\/en\/2022\/01\/21\/cpa-australia-nearly-half-of-mainland-chinese-businesses-expect-profitable-growth-in-2022\/"},"modified":"2022-01-21T01:00:00","modified_gmt":"2022-01-21T01:00:00","slug":"cpa-australia-nearly-half-of-mainland-chinese-businesses-expect-profitable-growth-in-2022","status":"publish","type":"post","link":"https:\/\/eodishasamachar.com\/en\/2022\/01\/21\/cpa-australia-nearly-half-of-mainland-chinese-businesses-expect-profitable-growth-in-2022\/","title":{"rendered":"CPA Australia: Nearly half of Mainland Chinese businesses expect profitable growth in 2022"},"content":{"rendered":"<p> \n<\/p>\n<div lang=\"en\">\n<ul>\n<li>Most businesses expect Mainland China&#8217;s GDP to grow by five per cent or more.<\/li>\n<li>Eighty-three per cent<br \/>\npredict their company&#8217;s profits will increase or remain stable.<\/li>\n<li>Challenges include global economic uncertainty, the pandemic and potential trade barriers.<\/li>\n<\/ul>\n<p>BEIJING, MAINLAND CHINA<br \/>\n&#8211;\u00a0<a href=\"https:\/\/www.media-outreach.com\/\" rel=\"sponsored\">Media OutReach<\/a>\u00a0&#8211; 21 January<br \/>\n2022 &#8211; Most businesses in Mainland China are confident about the country&#8217;s 2022<br \/>\neconomic and business outlook, according to\u00a0a new survey\u00a0by<br \/>\none of the world&#8217;s largest professional accounting organisations, CPA<br \/>\nAustralia. The survey results suggest that Mainland China will continue to play<br \/>\nan important role in driving the global economic recovery this year.<\/p>\n<p style=\"text-align: center\"><img width=\"500\" data-src=\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/215645\/CPA-Infographic-EN.jpg#image-215645\" class=\"lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\"\/><\/p>\n<p><noscript><img src=\"https:\/\/images.media-outreach.com\/Thumb\/500x0\/215645\/CPA-Infographic-EN.jpg#image-215645\" width=\"500\"\/><\/noscript><\/p>\n<p>CPA<br \/>\nAustralia surveyed 210 accounting and finance professionals in Mainland China about<br \/>\nlocal economy and business conditions in 2022. Sixty-nine per cent of respondents expect Mainland<br \/>\nChina&#8217;s GDP to grow by five per cent or more. Eighty-three per cent predict their company&#8217;s profit will increase or remain<br \/>\nthe same. Forty-seven per cent expect<br \/>\ntheir company&#8217;s profit to increase by two per cent or more. Forty-nine per cent of respondents expect their company&#8217;s headcount will increase.<\/p>\n<p>Kevin Ng FCPA (Aust.),<br \/>\nMember of CPA Australia&#8217;s North China Committee, said &#8220;Respondents are generally<br \/>\noptimistic that the economy will remain stable in 2022. This is mainly due to<br \/>\npositive factors such as an effective control over Covid-19 and a host of<br \/>\ndifferent measures which were implemented to keep the economy stable, including<br \/>\ngovernment interventions.<\/p>\n<p>&#8220;The economy is facing<br \/>\nmajor headwinds such as continued global economic uncertainties, the pandemic<br \/>\nand the possibility of more international trade barriers. These challenges may<br \/>\nimpact many businesses, particularly smaller businesses facing financing<br \/>\ndifficulties.<\/p>\n<p>\u00a0<\/p>\n<p>&#8220;The government&#8217;s timely<br \/>\nmeasures to support small and medium-sized enterprises, such as introducing<br \/>\ntargeted tax deduction and fees cuts as well as strengthening financial support,<br \/>\nwill help relieve the financial burden of these challenges and lower financing<br \/>\ncosts.&#8221;<\/p>\n<p>\u00a0<\/p>\n<p>Reflecting efforts to ensure long-term growth and<br \/>\nstay ahead of technological disruptions, 59 per cent of respondents think their company will<br \/>\nincrease investment into new technology and 47 per cent expect digital transformation will<br \/>\nbe their company&#8217;s key strategic focus in 2022. In addition, 88 per cent of<br \/>\nrespondents expect their company will undertake an environmental, social and governance<br \/>\n(ESG) initiative this year.<\/p>\n<p>Michael Yu<br \/>\nFCPA (Aust.), President of CPA Australia&#8217;s East and Central China Committee,<br \/>\nanticipates that &#8220;Trends<br \/>\nin technology and innovation, ESG and consumer business investments will<br \/>\ncontinue to boom in 2022 in terms of the direction of corporate investments and<br \/>\nmergers and acquisitions.<\/p>\n<p>\u00a0<\/p>\n<p>&#8220;Digital transformation<br \/>\nand innovation are key drivers of business growth. The percentage of<br \/>\nrespondents who expect their company to increase investment into new technology<br \/>\nhas increased by two percentage points from last year. This marks two consecutive<br \/>\nyears of rising expectations for technology investment. <\/p>\n<p>\u00a0<\/p>\n<p>&#8220;Supported by the 14<sup>th<\/sup> Five-Year Plan, the deployment of 5G coverage<br \/>\nnetwork and the proliferation of artificial intelligence, blockchain and cloud technologies,<br \/>\nthe strong level of business technology usage and innovation will ensure Mainland<br \/>\nChinese businesses are well positioned for further development and expansion.<\/p>\n<p>\u00a0<\/p>\n<p>&#8220;It&#8217;s positive to see most local businesses will be<br \/>\ntaking actions related to ESG. This indicates that businesses are accelerating<br \/>\nESG integration into their business models and aiming to contribute to national<br \/>\nESG goals such as carbon neutrality.&#8221;<\/p>\n<p>\u00a0<\/p>\n<p>Rebecca Wong FCPA (Aust.), Deputy President of CPA Australia&#8217;s South<br \/>\nChina Committee, noted that 85 per cent of respondents expect their company to<br \/>\nexpand business activities within the Greater China region in the next three<br \/>\nyears. She says this trend is another positive sign that the local economy<br \/>\nis stabilising. <\/p>\n<p>\u00a0<\/p>\n<p>&#8220;Respondents were most likely to expect their<br \/>\nbusiness to expand into the Greater Bay Area (GBA) in the next three years,<br \/>\nwith 47 per cent picking this region. The market size, large talent pool and a<br \/>\nstrong innovation and technology ecosystem in the GBA\u00a0are attractive to businesses<br \/>\nseeking growth opportunities. <\/p>\n<p>\u00a0<\/p>\n<p>&#8220;We recommend businesses seek to learn more about<br \/>\nthe GBA, including preferential government policies and consumer behaviour, and<br \/>\ndevelop a long-term strategic plan to capitalise on the unique growth<br \/>\nopportunities in the GBA.&#8221;<\/p>\n<p>\u00a0<\/p>\n<p>CPA Australia recommends Mainland<br \/>\nChinese businesses consider the following:<\/p>\n<ol>\n<li>Take advantage of preferential market<br \/>\nexpansion policies, for example, diversifying and expanding businesses into the<br \/>\nGBA.<\/li>\n<li>Integrate medium and long-term development<br \/>\nstrategies and reasonably allocate resources across short, medium and long-term<br \/>\nR&amp;D investment in targeted areas.<\/li>\n<li>Establish a long-term ESG strategy or governance<br \/>\nframework and specify ESG-related responsibilities across different business<br \/>\nunits.<\/li>\n<li>Regularly review and seek to improve internal<br \/>\ntax compliance and control systems. <\/li>\n<li>Balance market opportunities, capital risks<br \/>\nand corporate governance risks based on the characteristics of the industry and<br \/>\nthe overall business strategy.<\/li>\n<li>Focus on<br \/>\n     nurturing, upskilling and reskilling\u00a0talent\u00a0in innovation and<br \/>\n     technology to enhance the competitiveness of the businesses.<\/li>\n<\/ol>\n<p>Download the <a href=\"https:\/\/www.cpaaustralia.com.au\/-\/media\/project\/cpa\/corporate\/documents\/tools-and-resources\/business-management\/business-and-economic-sentiment-survey\/china-economic-survey-report-2022-english.pdf?rev=8080897275c44ca8ad4269be99d3f925&amp;download=true\" rel=\"sponsored\">Mainland China Economic and Business<br \/>\nSentiment Report 2022<\/a><\/p>\n<\/p><\/div>\n\n<br \/><a href=\"https:\/\/www.media-outreach.com\/news\/2022\/01\/21\/116609\/cpa-australia-nearly-half-of-mainland-chinese-businesses-expect-profitable-growth-in-2022\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most businesses expect Mainland China&#8217;s GDP to grow by five per cent or more. Eighty-three per cent predict their company&#8217;s profits will increase or remain stable. Challenges include global economic uncertainty, the pandemic and potential trade barriers. BEIJING, MAINLAND CHINA &#8211;\u00a0Media OutReach\u00a0&#8211; 21 January 2022 &#8211; Most businesses in Mainland China are confident about the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":20080,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/20079"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=20079"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/20079\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media\/20080"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=20079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=20079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=20079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}