China CEOs struggle with technology

Top executives based in China are less sure than their global peers about the driving value of digital technology, a recent survey found.

Only 67 percent of the 136 CEOs surveyed by PricewaterhouseCoopers had a clear vision of how digital technologies can give them a competitive edge, compared with 92 percent in the United States and 86 percent worldwide.

Skill shortages, new market entrants, technological change, increasing tax burden and shift in consumer behaviors were among the top-five threats faced by CEOs, the survey found.

Only 36 percent of the CEOs said they were very confident of their company's growth prospects over the next 12 months — down from 47 percent last year, PwC said in a report yesterday.

"China's economy is rebalancing. CEOs have to work hard to find growth in domestic economy while it undergoes a major transformation and the global economy is marked by disruptive forces," PwC Shanghai Senior Partner Elton Huang said.

Finding and retaining talents was a priority for 77 percent of the CEOs.