Latest News:  
Beijing   Sunny/Cloudy    11 / 2   City Forecast

People's Daily Online>>China Business

Business confidence increases, survey says

By Chen Jia (China Daily)

08:25, March 21, 2012

Confidence among business leaders rebounded for the first time in a year this quarter, despite the cooling economic climate, according to the results of a central bank survey released on Tuesday.

A key gauge, the entrepreneurs confidence index, rose to 70.2 percent in the first three months, 1.8 percentage points higher than the last quarter in 2011, a statement released on the People's Bank of China website said.

The growing confidence expressed by business leaders was in line with findings by UBS AG, Nomura Securities Co and HSBC Holdings.

Economists forecast that GDP growth may hit bottom in the January-March period and then recover thanks to a further easing in monetary policy and a rebound in fixed investment.

Another indicator - the Entrepreneurs Macro-Economy Heat Index - that gauges opinion about the current economic climate was not as optimistic as it registered 39.2 percent in the first quarter, compared with 41.7 percent three months earlier. Over the year, the index has dropped by 12.3 percentage points, according to a central bank survey of 5,000 companies.

The index has been below 50 for nine months. A reading below that mark means contraction, above indicates expansion.

"GDP growth in the first quarter may slow to 8.2 percent from a year earlier and be pushed up later by social housing and infrastructure investment," said Wang Tao, head of China economic research at UBS Securities.

A growth target of 7.5 percent has been set for 2012 from last year's 8 percent, the slowest in eight years. This is a consequence of a complicated global economic situation that provides space to further structurally transform the domestic economy, Premier Wen Jiabao said recently in the annual government work report.

【1】 【2】


Leave your comment0 comments

  1. Name


Selections for you

  1. Helicopter dispatched to SW China forest fire

  2. Bomb disposal team defuses hoax bomb in Shenzhen

  3. Warplanes conduct confrontation drilling

  4. British shop owner in Beijing’s hutong

Most Popular


  1. China continues to promote peace in Afghanistan
  2. Nuclear security cooperation
  3. Arms race will happen, but who to blame?
  4. Why China can't persuade N.Korea alone
  5. WTO's raw materials ruling reveals bias
  6. 21st Century classrooms needed for the future
  7. West's rare earth claim against China unreasonable
  8. Chinese economy vital for world
  9. How should China provide for seniors?
  10. Obama brings new trade case against China

What's happening in China

600-meter noodle displayed in Shanxi

  1. China’s Botox backlash is about to hit a wrinkle
  2. Shanghai Museum gets aid for antique restoration
  3. Capital promotes green employment
  4. Four detained after student freezes to death
  5. Wolf killed after attacks on humans in E China

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai