CFOs optimistic about Chinese economic outlook

Zhu Shenshen
Chief financial officers in the Asia Pacific are confident about China's economic rebound and growth during the pandemic, business consulting firm Tricor said in a recent survey.
Zhu Shenshen

Chief financial officers (CFOs) in the Asia Pacific are confident about China's economic rebound and growth during the pandemic, business consulting firm Tricor said in a recent survey.

Hong Kong is an attractive initial public offering (IPO) destination for Chinese firms, especially in the technology and health-care industries, said Tricor, which has 1,300 HK-listed clients.

With well-controlled measures on the Chinese mainland, 69 percent of Chinese mainland CFOs expect business growth and better performances in 2021 than last year, according to the survey.

The CFO survey conducted by Tricor and FutureCFO covers 561 CFOs in the Asia Pacific, including 100 CFOs on the Chinese mainland in the financial, insurance, manufacturing, consumption, service, logistics and high-tech industries.

During the pandemic, CFOs should focus more on readjusting operations to improve business flexibility, identify where to improve operational efficiency, outsource processes to third-party partners and tap digital talent while stepping up digital transformation targets, according to Tricor.

In the future, more domestic tech and health-care firms will carry out IPOs in Hong Kong. In the long term, Hong Kong will remain an "unshakable" financial center in the Asia Pacific and globally, said Wendy Wang, CFO and COO of Tricor.

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