Chinese CEOs are less confident about the revenue outlook over the next 12 months as tough market competition, speed of technology changes and shifts in consumer behaviors pose challenges to corporate earnings, PricewaterhouseCoopers (PwC) said. The China report of PwC’s Global CEO survey found 25% of the 145 respondents expressed confidence in their company’s revenue growth over the next 12 months – 11 percentage points lower than last year. 90% said new entrants to the market, especially from the internet sectors, posed a challenge that could affect their organizations’ growth prospects. Fast changes in technology and consumer behavior were the other two big challenges. The China survey result was slightly lower than the global survey that found 27% of the 1,400 CEOs expressed confidence over earnings. Over a longer term, 34% of Chinese business leaders said they were confident about the growth prospects over the next three years, believing that the major economic transformation China was undergoing would bring sustainable growth. The drop in confidence of chief executives is the latest sign that Chinese businesses are preparing for a tough time this year. Fears are growing about more job cuts and bankruptcies as companies fall victim to a sluggish global market and a lackluster domestic economy.