Drop in China's inflation rate lifts confidence
Source: Xinhua |
March 21, 2012, Wednesday
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Print Edition
Print Edition
A DROP in China's inflation rate has boosted consumer and entrepreneur confidence, as measures taken to tame consumer prices are continuing to make an impact, the People's Bank of China said yesterday.
The Residents' Price Satisfaction Index rose to 19.7 percent in the first quarter of this year, up 3.2 percentage points from the previous quarter, the central bank said in a statement on its website, citing a recent survey.
The PBOC carried out the quarterly survey among 20,000 urban bank depositors in 50 major cities.
Nearly 63 percent of urban bank depositors polled said current consumer prices are "too high to accept," down 5.9 percentage points from the fourth quarter of last year.
China's Consumer Price Index, a main gauge of inflation, eased to a 20-month low of 3.2 percent last month.
Many Chinese are expecting inflation to slow in the short term, with the "future price expectations sub-index" dropping to 62.1 percent, down 3.3 percentage points from the previous quarter.
As for investment options, according to the survey, "funds and other wealth management products" were a top priority for more than a quarter of respondents, followed by "industrial investment" for 16.4 percent.
Only 14.1 percent of respondents said they would be willing to buy homes in the second quarter, nearly the same number as in the fourth quarter and also the lowest since the fourth quarter of 1999, when the quarterly survey began.
Meanwhile, only 9.4 percent of Beijing and Shanghai residents said they are willing to invest in the real estate sector in the coming quarter.
In a quarterly PBOC survey of 5,000 Chinese entrepreneurs, their confidence rebounded in the first quarter after falling for four straight quarters.
The entrepreneur confidence index, a gauge of the views and opinions of the country's entrepreneurs, rose to 70.2 percent in the first quarter, up 1.8 percentage points from a quarter earlier.
About 27.3 percent said the nation's economy is "relatively cool," up 2.5 percentage points from the previous quarter.
Nearly 67 percent of respondents saw no change in the economy, nearly the same number as in the fourth quarter, while 5.6 percent said the economy is "relatively hot."
China targets a 7.5 percent rise in the economy this year, slower than the 9.2 percent growth in 2011.
The Residents' Price Satisfaction Index rose to 19.7 percent in the first quarter of this year, up 3.2 percentage points from the previous quarter, the central bank said in a statement on its website, citing a recent survey.
The PBOC carried out the quarterly survey among 20,000 urban bank depositors in 50 major cities.
Nearly 63 percent of urban bank depositors polled said current consumer prices are "too high to accept," down 5.9 percentage points from the fourth quarter of last year.
China's Consumer Price Index, a main gauge of inflation, eased to a 20-month low of 3.2 percent last month.
Many Chinese are expecting inflation to slow in the short term, with the "future price expectations sub-index" dropping to 62.1 percent, down 3.3 percentage points from the previous quarter.
As for investment options, according to the survey, "funds and other wealth management products" were a top priority for more than a quarter of respondents, followed by "industrial investment" for 16.4 percent.
Only 14.1 percent of respondents said they would be willing to buy homes in the second quarter, nearly the same number as in the fourth quarter and also the lowest since the fourth quarter of 1999, when the quarterly survey began.
Meanwhile, only 9.4 percent of Beijing and Shanghai residents said they are willing to invest in the real estate sector in the coming quarter.
In a quarterly PBOC survey of 5,000 Chinese entrepreneurs, their confidence rebounded in the first quarter after falling for four straight quarters.
The entrepreneur confidence index, a gauge of the views and opinions of the country's entrepreneurs, rose to 70.2 percent in the first quarter, up 1.8 percentage points from a quarter earlier.
About 27.3 percent said the nation's economy is "relatively cool," up 2.5 percentage points from the previous quarter.
Nearly 67 percent of respondents saw no change in the economy, nearly the same number as in the fourth quarter, while 5.6 percent said the economy is "relatively hot."
China targets a 7.5 percent rise in the economy this year, slower than the 9.2 percent growth in 2011.
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