Interesting though admittedly somewhat unscientific poll up on the Capital Record blog (a consistently thoughtful blog which I just added to our blogroll), in its post, “Poll portends positive for China PR.” The post is on a poll conducted on the blog finding that 75% of 56 respondents see a positive year ahead for PR in China:
Sure, it’s not a statistically valid sample size, but we assume all those who took part in the survey are China PRO’s – that is China-based public relations officers. In this sense our poll has quality over quantity. We are confident that those who responded were “in the know” on next year’s PR budgets. We cannot guarantee this but the consistency of the responses throughout the poll suggests the respondents were credible.
Since we started the poll we have had near consistent ratings of 70 to 75% of respondents anticipating no impact on local PR budgets in 2009 from the crisis. At the time of closing the poll 75% said they expected no impact while 18% expected some reduced funding for projects. Importantly, only 7% of voters anticipated projects being placed on hold and/or the possibility of staff cuts in 2009.
That bears out much of what we have been picking up anecdotally from others in the industry. While there is some concern about what might happen into 2009, the overall sense is that projects are continuing and China PR budgets are not being impacted. Indeed, from the perspective of AC Capital, we are currently experiencing our busiest fourth quarter since opening shop five years ago. That certainly portends well as we end a tumultuous year.
I mention this poll because it reinforces what my law firm has been seeing when it comes to China: no slowdown in the service sector. What are you seeing?