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Investor confidence in Shanghai soars in Q4
By Wang Yanlin |
January 7, 2010, Thursday
|
Online Edition
Online Edition
INVESTORS grew more optimistic about Shanghai's economic outlook in the fourth quarter of last year compared with the previous quarter, suggesting firmer ground for the city's economy to grow, a survey showed today.
The Shanghai Investor Confidence Index, compiled by the Shanghai University of Finance and Economics, increased to 120.6 points in the last quarter of 2009, up 3.9 points from the previous quarter and 17.61 points from a year earlier.
An index reading above 100 refers to an optimistic attitude among investors.
"They gained more confidence from a clearer recovery in Shanghai's economy. Investors have sensed more positive economic changes, which will add to the city's growth impetus," said Xu Guoxiang, the research program leader and director of the university's Applied Statistics Research Center.
But Xu also cautioned of the hardship and difficulties remaining for investors amid still weak external demand.
Shanghai's gross domestic product grew 9.8 percent in the third quarter of 2009 from a year earlier, strengthening from the increase of 7.9 percent in the third quarter and 3.1 percent in the first three months.
The Shanghai Investor Confidence Index, compiled by the Shanghai University of Finance and Economics, increased to 120.6 points in the last quarter of 2009, up 3.9 points from the previous quarter and 17.61 points from a year earlier.
An index reading above 100 refers to an optimistic attitude among investors.
"They gained more confidence from a clearer recovery in Shanghai's economy. Investors have sensed more positive economic changes, which will add to the city's growth impetus," said Xu Guoxiang, the research program leader and director of the university's Applied Statistics Research Center.
But Xu also cautioned of the hardship and difficulties remaining for investors amid still weak external demand.
Shanghai's gross domestic product grew 9.8 percent in the third quarter of 2009 from a year earlier, strengthening from the increase of 7.9 percent in the third quarter and 3.1 percent in the first three months.
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