China News Service, Beijing, January 30 (Reporter Liu Yuying) The latest survey released by CPA Australia (CPA Australia), one of the world's largest accounting professional groups, in Beijing on the 30th showed that accounting and financial professionals in mainland China have expectations for the business world in 2024. The development prospects are cautiously optimistic, with nearly 80% of companies expecting to expand their business in mainland China in the next three years.
74% of the professionals surveyed expect their company's profits to increase or remain unchanged this year, and 78% of the respondents said that their company will expand its business activities in mainland China in the next three years.
The professionals surveyed believe that intensifying fierce competition (41%), weak consumer demand (36%) and rising operating costs (28%) are the main challenges that Chinese mainland companies will face in 2024. Therefore, many respondents expect that their companies will choose cost management (47%), innovation, technology application and digital transformation (43%), and improving operational efficiency (41%) as main strategies to cope with challenges.
Peng Fei, chairman of the North China Committee of CPA Australia, believes that thanks to a series of policy support and structural reform measures, mainland China's economy has recovered steadily over the past year. The survey results show that the trend of stability and progress is expected to continue in 2024.
Peng Fei said that despite the uncertainty of global economic development, 45% of mainland Chinese professionals surveyed expect their companies' profits to increase this year. Data shows that mainland China is still a very attractive investment destination, especially regions that are highly open, closely connected to the global market, and have active innovative cultures, including the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta city cluster. Attract domestic and foreign companies and investors. (over)