Confident Chinese entrepreneurs
By Wang Yanlin |
January 8, 2011, Saturday
|
Print Edition
Print Edition
THE Chinese business climate index rose in the fourth quarter of last year as entrepreneurs in China became more confident, and this augurs well for the country to grow its economy.
The Business Climate Index in China edged up 0.1 point from a quarter earlier to 138 in the October-December period, the National Bureau of Statistics said yesterday.
The Entrepreneurs' Confidence Index gained 1.1 points from the previous quarter to 137.
A reading above 100 indicated an expansion, and one showing more than 130 shows robust activities.
"Entrepreneurs tend to be optimistic even if there are uncertainties ahead when China tightens its monetary policy and restructures its economy," said Li Maoyu, an analyst at the Changjiang Securities Co.
China announced a shift to a prudent monetary policy stance in December to counter rising inflation and growing asset bubbles. The country is revamping its economic structure to upgrade its manufacturing sector and develop its services industry as a top priority in the 12th Five-Year Plan period through 2015.
In the first three quarters of 2010, China's economy expanded 10.6 percent year on year to 26.8 trillion yuan (US$4 trillion).
The Business Climate Index in China edged up 0.1 point from a quarter earlier to 138 in the October-December period, the National Bureau of Statistics said yesterday.
The Entrepreneurs' Confidence Index gained 1.1 points from the previous quarter to 137.
A reading above 100 indicated an expansion, and one showing more than 130 shows robust activities.
"Entrepreneurs tend to be optimistic even if there are uncertainties ahead when China tightens its monetary policy and restructures its economy," said Li Maoyu, an analyst at the Changjiang Securities Co.
China announced a shift to a prudent monetary policy stance in December to counter rising inflation and growing asset bubbles. The country is revamping its economic structure to upgrade its manufacturing sector and develop its services industry as a top priority in the 12th Five-Year Plan period through 2015.
In the first three quarters of 2010, China's economy expanded 10.6 percent year on year to 26.8 trillion yuan (US$4 trillion).
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