After a tough year for private equity market players in China, with the volume and value of deals plunging, funds will be more focused on value creation in 2013, according to a report released in Shanghai on Wednesday.

According to the report by Bain & Company, entitled China PE Survey 2013, about 40 percent of respondents said they would focus on value creation capacity in 2013 instead of multiple expansion and profit gains, which used to be considered major contributors to returns.

The report was based on a survey that polled 18 funds, a mix of Chinese, Asian and global companies.