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Chinese firms still upbeat amid changing climate
By Wang Yanlin |
April 8, 2011, Friday
|
Online Edition
Online Edition
CHINA'S stable economic growth boosted the confidence of domestic enterprises in the first quarter, but business climate grew less favorable, two surveys by the National Bureau of Statistics showed today.
The Business Confidence Index in China stayed at the same level as in the final quarter of last year at 137.4 in the first three months. Confidence rose among retailers and consumer goods producers but property developers were less sanguine with their index fell by 8.4 points from the previous quarter to only 112.3.
Meanwhile, the Business Climate Index dropped to 133.8 in the January-March period, down 4.2 points from 2010's last quarter.
"China's tightening policies make it harder for companies to get credit," said Shi Lei, an economics professor at Fudan University. "But the country's solid growth momentum has kept businesses optimistic about the future."
China adopted a prudent monetary policy stance since the end of last year. The country has raised the interest rates four times since October, up 25 basis points each time with the latest taking effect last Tuesday.
China's gross domestic product rose 10.3 percent year-on-year to 39.79 trillion yuan (US$6.03 trillion) in 2010, surpassing Japan as the world's second-largest economy.
The National Bureau of Statistics is set to release the first-quarter economic figures next Friday, and some analysts expected China's GDP in the first three months to settle between 9.6 percent and 10 percent.
The Business Confidence Index in China stayed at the same level as in the final quarter of last year at 137.4 in the first three months. Confidence rose among retailers and consumer goods producers but property developers were less sanguine with their index fell by 8.4 points from the previous quarter to only 112.3.
Meanwhile, the Business Climate Index dropped to 133.8 in the January-March period, down 4.2 points from 2010's last quarter.
"China's tightening policies make it harder for companies to get credit," said Shi Lei, an economics professor at Fudan University. "But the country's solid growth momentum has kept businesses optimistic about the future."
China adopted a prudent monetary policy stance since the end of last year. The country has raised the interest rates four times since October, up 25 basis points each time with the latest taking effect last Tuesday.
China's gross domestic product rose 10.3 percent year-on-year to 39.79 trillion yuan (US$6.03 trillion) in 2010, surpassing Japan as the world's second-largest economy.
The National Bureau of Statistics is set to release the first-quarter economic figures next Friday, and some analysts expected China's GDP in the first three months to settle between 9.6 percent and 10 percent.
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