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Confidence among SMEs drops in Q3
By Feng Jianmin |
September 28, 2012, Friday
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Print Edition
Print Edition
CONFIDENCE among small businesses in China declined in the third quarter due to slower domestic growth and tougher international trading environment, Standard Chartered Bank said in a report yesterday.
An index measuring confidence among small and medium-sized enterprises dropped 7.44 points quarterly to 46.71 points, the bank said after surveying more than 1,000 SMEs nationwide. Among the sub-indices, confidence for fund-raising improved from the second quarter while confidence about returns from investment worsened most.
"Revenue and profits of companies declined significantly, with some record losses, as they were deeply impacted by the domestic and overseas economic situation," the report said. "About 40 percent of respondents said they are not positive about the economic outlook."
Rising costs of raw materials as well as labor also lowered business confidence, the report said.
Businesses in west China were generally more upbeat as the local governments have accelerated investment and construction of infrastructure.
An index measuring confidence among small and medium-sized enterprises dropped 7.44 points quarterly to 46.71 points, the bank said after surveying more than 1,000 SMEs nationwide. Among the sub-indices, confidence for fund-raising improved from the second quarter while confidence about returns from investment worsened most.
"Revenue and profits of companies declined significantly, with some record losses, as they were deeply impacted by the domestic and overseas economic situation," the report said. "About 40 percent of respondents said they are not positive about the economic outlook."
Rising costs of raw materials as well as labor also lowered business confidence, the report said.
Businesses in west China were generally more upbeat as the local governments have accelerated investment and construction of infrastructure.
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