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ACCA: China remains optimistic about the financial and accounting professional
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The world's largest survey of professional accountants on a regular basis, sovereign debt crisis and global economic recovery process increased the threat of inflation is very obvious. ACCA (Association of Chartered Certified Accountants) in Q2 2010 to carry out the "global economic situation," Survey of the current economic situation is better, or is about to be improved, this view for the first time by the majority of respondents agreed. Financial and accounting professionals in China is still the most optimistic country of those surveyed one of the groups. But they also realize that the market slowdown in Western countries is the impact on China. China Survey Results For some time, ACCA survey data are signs that the market refused to follow the Western countries as the pace of recovery in China, coupled with government efforts to prevent asset bubbles, so there is slowing China's economic development possibilities. Respondents were confident the global economic recovery has been a continuous decline in the first two quarters, I believe the global economy is, or will the recovery ratio of only 61% of respondents, for the 9 months since the new low. Similarly, the proportion of business confidence hit a pick up from the lowest since mid-2009 levels - in the ACCA Hong Kong for mainland China and the survey sample, only 38% of the respondents said that business confidence has improved (less than 1 quarter, 47%), and 43% of the respondents believed that no change in this regard. However, these figures mask the existence of Hong Kong and mainland China, many differences of opinion. Hong Kong, accountants surveyed prospects for global economic recovery trend of the performance of the more skeptical, business confidence fell; in mainland China, ACCA business confidence level is higher than all other major markets, confidence in the global economic recovery is only slightly weaker in Singapore, ranked No. 2. Encouraging the most distressing is that China has become the first to appear in the survey area net increase in investment in the country (in addition to Singapore), although this increase is not obvious. Part of the reason of this phenomenon led to at least include: an increase in the constructive opportunities, especially in overseas markets. Although China has tightened lending, but it seems to have not given up the relevant company to seek business opportunities. The credit tightening is due to China's monetary authorities attempt to curb the flood of 2009, the emergency lending was overheating. Finally, to point out that, although in accordance with international standards, the respondents channel for cash flow and borrowing did not show an obvious concern, but the market demand is still a problem, inflation is becoming serious. Chinese survey sample, 36% (higher than 25% in Q1) that operational costs have increased. Global survey Although members of the ACCA in the world, more and more people are optimistic about economic prospects for, but in 2200 received the survey accounting professionals, the vast majority of people are still skeptical of significant improvement. ACCA Senior Policy Advisor Xicha Si (Manos Schizas) said: "The nearly one-third of respondents said that business costs have increased. Among them, small businesses and non-profit organizations are the hardest hit. Africa South Asia and Asia-Pacific region bear the cost of the most significant upward pressure. " "The survey also showed that fast development in the global economy, those 'vanguard of the economic recovery' is increasingly difficult to find accountants." Xicha Si said: "Asia for the third consecutive quarter of deceleration 2. Africa's performance has been strong, but now it revealed a further sign of Asia's footsteps. ACCA believes that attributed the slowing up the recovery in Europe and America is weak, And China has two consecutive quarters tightening. " The recovery of Western Europe stopped in early 2010, and now even a negative growth. The future direction of the euro zone sovereign debt and financial practitioners so worried. Q2, although the level of investment remains low, but there are opportunities for profitable investment, to improve the impact of state funding, commercial investment or emerged from the recession has been the most rapid rebound. The survey also showed that although the recession has created a certain market conditions, but companies can take advantage of the opportunity of the time is running out - for the current round of business seems to have been in the third quarter of 2009 reached a peak. "It is noteworthy that the developed and developing countries to respond to this challenge is not the same way. More and more developing countries, the respondents will give your business or customers looking for pure value-added opportunities; and developed by respondents was more focus on cost reduction opportunities. "Xi Chasi said. He said: "The survey also showed that the recovery of the global economy speeds the industry are not the same. Public confidence in the particular field of accountants to describe the problem. This situation not only in developed countries (since the 2008-2009 financial crisis, market confidence has never really recovered), and now also in developing countries (the weak recovery that growing concerns about practitioners). "