Companies Awaiting Market’s Decisive Role

The increasing role of the market and the decreasing role of the government is eagerly anticipated by both Chinese and foreign executives according to our poll of 773 executives from companies doing business in China. Chinese and foreign executives who participated in the CEIBS Business in China Survey 2015 are anticipating that the new round of economic reform which got underway in China in 2014 will further increase market openness and reduce government intervention. They are likely reacting to signals from the Third Plenum of the 18th Communist Party of China Central Committee which set the new reform agenda in November 2013. As outlined in the blueprint for comprehensive reform in China for the next ten years, The Decision on Major Issues Concerning Comprehensively Deepening Reforms, “the basic economic system should evolve on the decisive role of the market in resource allocation.” Chinese and foreign executives have heard this message loud and clear, based on their responses for this year’s CEIBS Business in China Survey. The Survey is an annual poll of business executives working in China for both Chinese-owned and foreign-owned companies. Among the findings from this year’s poll: the types of reforms companies prefer, the roles of innovation and the Internet in China’s new business environment, as well as the competitiveness of Chinese private companies. http://en.ceibs.edu/companies-awaiting-market%E2%80%99s-decisive-role