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Business confidence rises with recovery

BUSINESS confidence in China strengthened in the last quarter of 2009, riding on a better business climate and a stronger recovery in the country, the National Bureau of Statistics said today.

China's Business Confidence Index rose 7.6 points from a quarter earlier to 127.7 in the fourth quarter of last year. Separately, China's Business Climate Index, also released by the bureau, expanded to 130.6 from 124.4 in the previous quarter.

An index reading above 100 refers to optimism or expansion.

"The government's marked determination to sustain China's economy has boosted business confidence to a great extent," said Li Maoyu, an analyst at the Changjiang Securities Co. "Its fast response to the crisis and the decision to continue relatively easy policies this year have created a favorable environment for businesses."

Xu Xianchun, deputy director of the bureau, said on Wednesday that China staged a V-shaped growth last year and has made a foray into a new round of economic expansion.

Bullish stock markets, robust property sales and rising industrial production on strong domestic demand are signs of China's economic recovery, Xu said.


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