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Asian finance professionals confident in regional growth opportunities

  • 85% of Asian treasurers unconcerned with potential China slowdown.
  • China (60%) and the rest of Asia (70%) by far the most important areas for growth.

Senior financial and treasury professionals in Asia have shrugged off any possible economic slowdown in China and are fully focussed on exploiting growth opportunities within the region.

This was the result of the "Treasury Verdict" session taken by a live audience poll of senior treasury and finance professionals at EuroFinance's conference on International Cash, Treasury and Risk for Finance Professionals in Asia, held in Singapore. The session is sponsored by J.P. Morgan Treasury Services.

When asked how worried they are that a relative slowdown in China will affect the rest of Asia, 45% of respondents said that they are not very concerned, while a further 40% stated they believe that there will not be a significant slowdown at all.

This bullish regional mood was similarly reflected when delegates were asked which the most important areas for their company's growth plans globally are. Significantly more than half of the audience (60%) identified China as an important area for their company's growth plans globally, while an even greater number (70%) selected the rest of Asia. No other region globally polled more than 19%.

Despite the regional optimism, finance professionals in Asia are fractionally more cautious about the prospects for their company's business in the coming 12 months. Just over two-thirds (67%) are optimistic over their company's performance in the next year. Looking at the Treasury Verdict optimism table, this places Asia behind Brazil (85%), Mexico (82%), India (77%) and the Middle East (73%).

It could well be the case that external factors are tempering the optimism in Asia. This is the case with the euro crisis, as only 22% of Asian finance professionals report no sign of any impact from this crisis. Almost half (48%) are seeing some negative impact on their business from the euro crisis, with a further 13% seeing considerable impact.

Katharine Morton, EuroFinance's Managing Editor, says "Asian companies clearly see the growth potential that exists within their regional market and look keen to exploit this in the coming year. But they are also keeping a balanced view, remaining vigilant when looking at the global economy as a whole. It is interesting to note that, while 78% are or will experience a negative impact from the euro crisis, growth opportunities closer to home are contributing to a general feeling of optimism."