Business confidence improves

By Hu Xiaocen | July 18, 2014, Friday |

Online Edition

BUSINESS confidence among China’s largest companies rose for the third consecutive month in July amid increasing evidence authorities will ensure economic growth does no slip far below the 7.5 percent growth target.

The monthly MNI China Business Indicator rose to 58.2 this month from 55 in June, the highest reading since December, Market News International, a unit of Deutsche Boerse Group, said in a report today.

“There is little doubt now that the combined impact of the authorities’ fine-tuning measures is having a positive effect on our panel of businesses,”Philip Uglow, chief economist of MNI Indicators said. “Our survey provided a signal that activity would pick-up in the second quarter and now the early snapshot for the third quarter suggests that growth pushed ahead here as well.”

“The Chinese authorities seem intent on not letting GDP lose too much ground whilst at the same time recognizing that they need to maintain financial stability and deal with overcapacity in certain industries. It’s a difficult balancing act, although one that will be made slightly easier should growth in the US and global economy as a whole continue to recover as we expect,” added Uglow.

Economy

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Business confidence improves

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