This is a sem-annually questionnaire put forward to north European companies in China, The purpose is to follow how these companies are viewing the future for their companies in China. The answers are then analysed and an index is the reult.
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SEB Shanghai Financial Index Rises as Business Confidence in China Improves
1. China
Financial Index
SEB Shanghai Branch 16 March 2010
Investments up as business climate improves
- But profit expectations fall as margins deteriorate
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climate
Investment
plans
Employees Profit
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believed to be reliable, we do not represent that they are accurate or complete. No liability is accepted for any direct or consequential loss resulting from reliance on this document. Changes may be made to
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5. SEB Shanghai 16 March 2010 5
1. Business Conditions 5. Average Outstanding A/R
60% 50%
45%
50%
40%
40% 35%
30%
30%
25%
20% 20%
15%
10% 10%
5%
0%
Very Favourable Average Not so Very 0%
favourable favourable unfavourable
= 0-30 days 30-60 days 60-90 days 90-120 days >120 days
=
= =
2. Fixed Asset Investment Plans 6. Funding Needs
70% 70%
60% 60%
50%
50%
40%
40%
30%
30%
20%
20%
10%
10%
0%
Major Modest No Minor Major 0%
investments investments investments divestments divestments
= Increase Be Unchanged Decrease
=
3. Profit Expectations 7. RMB against USD
70% 70%
60% 60%
50%
50%
40%
40%
30%
30%
20%
20%
10%
10%
0%
Improve Improve Remain Deteriorate Deteriorate 0%
Considerably Unchanged Considerably
= Weaker RMB Unchanged RMB Stronger RMB
=
4. Number of Employees 8. RMB Interest Rates
60% 80%
50% 70%
60%
40%
50%
30% 40%
20% 30%
20%
10%
10%
0% 0%
Increase Increase Remain Decline Decline Interest rates will fall Interest rates will go up Interest rates will be
Significantly Unchanged Significantly
= unchanged
=
6. SEB Shanghai 16 March 2010 6
9. Main Trading Currency 11. Main Concerns
80%
80%
70%
70% 60%
50%
60%
40%
50% 30%
40% 20%
10%
30% 0%
20%
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ra
tit
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od
at
pe
ho
st
de
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t
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en
om
re
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g
n
10%
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er
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or
ym
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In
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ia
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ille
er
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ig
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re
Sk
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Fo
ex
USD EUR Scandinavian
us
to
pl
C
os
om
Currencies
= =
C
C
=
10. Hedging Strategy 12. Main Index
40% 90.0
35% 80.0
30% 70.0
25% 60.0
20% 50.0
15% 40.0
10% 30.0
5% 20.0
0%
10.0
Hedge most Hedge some Never hedge Hedging is Have no FX
flows on-shore flows on-shore done by flows
Index value Business Investment Employees Profit
climate plans
headquarters
= =
Source: SEB Shanghai. Grey stacks are indicating
companies’ answers in March 2009, and September 2009