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By Chen Jia in Da Nang, Vietnam | China Daily | Updated:2017-11-09 08:21Regional economic integration within the Asia-Pacific Economic Cooperation region is becoming more cohesive and revenue growth within the region is poised for a strong rebound despite an uncertain trade and foreign investment environment, a new survey said.
According to the survey released by global consultancy firm PwC on Wednesday, about 37 percent of the 1,412 chief executive officers doing business in the APEC region are “very confident” of earning more revenue in the next 12 months, up by 9 percentage points from a year earlier.
As most of them believe that the regions economic growth will continue to outpace the global rate, 63 percent are keen to expand their global business during the next three years, said the PwCs annual APEC CEO Survey, which was released at the APEC CEO Summit in the coastal city of Da Nang in Vietnam.
Nearly half of the APEC-based companies are increasing global investments, up from 43 percent last year, the survey said, and 71 percent of these CEOs are planning to increase investment in APEC economies.
Raymund Chao, PwC Asia-Pacific and Greater China chairman, told China Daily that China is playing an important role in the region, as the worlds second largest economy, especially to facilitate multilateral trade, infrastructure and to increase connectivity within the region.
“Chinas stable economic growth will make it very influential for all the APEC economies, and the country will take more leadership role in the global trade and investment perspectives,” he said.
From the survey, a more restrictive international trade environment, however, becomes a trend that the CEOs are worried about in the coming year, in terms of higher barriers to employing foreign labor or in moving goods across borders.
To limit headwinds from the changing global trade environment, which is more because of the rising inward-looking policies, the CEOs showed their efforts on changing trade policy, especially on “increased business activity in economies with established bilateral ties or to conduct more value added activities domestically”.
In China, after the 19th National Congress of the Communist Party of China, more policies are expected to create a more friendly and easier-to-enter business environment for foreign companies, which will boost free trade and cross-border capital investment, Chao said.Related StoriesThe 25th APEC Economic Leaders Meeting in Danang: Together Towards Prosperity and Harmonious DevelopmentMalaysia expects China to lead APEC for regional cooperation: expertsAPEC ideal platform to discuss digital economy: PECCXis APEC summit attendance, Vietnam visit to show characteristics of Chinese diplomacy: ambassadorSenior officials review progress of APEC cooperationPhotoWalking into e-commerce giants intelligent warehousesAlibaba prepares for Singles DayThe making of robots: View from the floorFarmers in N China cultivate radish to increase incomeApple fans around the world line up for iPhone X3D printed flying car to take to the skiesMost Viewed in 24 HoursState Council NewsPremier sends instruction for small and micro-sized enterprisesPremier urges bigger strides in industrial internet constructionTop 10Chinas top 10 investors in tech sectorEditors picksCOFCO International sells Nideras seed business to SyngentaJD to replace humans with robots in on-campus parcel deliveryChina DataChinas path to becoming a modernized economyQ&A With CEOArt of successServing in the name of progressSpecial2017 Summer DavosChinas Q1 economic dataBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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