The net balance measuring whether Chinese companies project an increase in headcount over the next 12 months was 11% in February, the highest level in eight years, according to a survey by S&P Global Market Intelligence, compared to only 2% in the previous survey conducted in October last year.
An index above zero indicates an optimistic outlook for the next year, while below zero indicates pessimism.
As the economy rebounds and various industries recover, Chinese companies plan to increase recruitment in the next year, Standard & Poor’s Global said.
With the improved recruitment prospects, that business confidence has rebounded to the highest in ten years, and the proportion of companies planning to increase investment has reached the highest level since Oct 2021, showed the survey.
S&P Global Market Intelligence Economics, said, “People generally expect that the sustained recovery of economic activity and the reduction of operational and supply chain disruptions will drive growth, it said.