Business professionals optimistic about China's growth in 2016

Business professionals in China have a positive outlook on the nation's economy and are confident about its development in 2016, with policies that encourage innovation, said a survey from a global accounting organization.

Data from the new survey - The China Economic Sentiment Survey conducted by CPA Australia, showed on Tuesday that 41.8 percent of the 204 accountants and business executives expect a GDP growth between 6.5 to 6.9 percent next year, while 36.5 percent thought the GDP may slow to less than 6.5 percent.

According to the survey, about 55 percent of the respondents expect the business revenue they generate in China will increase in 2016, and 48 percent of them plan to increase employees in the country next year.

"Despite the concerns on China's economic slowdown, the results indicate that people in China increasingly understand the 'new normal' with regards to economic growth and still see it as a positive with significant new opportunities emerging, particularly for companies that are focused on innovation, quality and overseas expansion," the survey said.

Kevin Ng, North China Committee President of CPA Australia, said at a press conference in Beijing that "New market opportunities were fueling optimism, as the government appears to be genuinely committed to making a serious and sustained contribution to creating a culture of innovation in China."

Meanwhile, the Belt and Road Initiative is expected to boost development of vital export infrastructure like roads, rail and ports both in the country and in the emerging markets along the routes.

Peter Kung, vice chairman of KPMG China, said "The China-Australia Free Trade Agreement which will take effect from Dec 20 is also important in the next year, and it will create significant opportunities for business in both countries."