Entrepreneurs 'not so positive'
By Wang Yanlin |
July 10, 2010, Saturday
|
Print Edition
Print Edition
THE Chinese business climate index continued to rise in the second quarter but entrepreneurs' confidence fell, indicating that while China's economy remained solid policy uncertainties were creating concerns for some people.
The Business Climate Index in China climbed to 135.9 in the April-June period, up 3 points from the first quarter, the National Bureau of Statistics said yesterday.
The Entrepreneurs' Confidence Index, however, dropped for the first time in more than two years to 133, down 2.5 points from the previous quarter, led by dampened confidence among property developers and sellers.
A reading above 100 indicates expansion.
"People remained positive about their business in China, just not so positive as the time before the European sovereign debt crisis," said Li Maoyu, an analyst at Changjiang Securities Co. "Meanwhile, China's attitude on the exit of its stimulus package made entrepreneurs a bit uncertain about the future."
China's decision makers have said the country will still stick to a relatively easy fiscal policy and a proactive monetary policy, even though many developed countries have retreated from a loose stance.
But economists said China has tightened its policies by raising the reserve requirement ratio and reduced the new yuan credit sharply in the first half.
Meanwhile, China's exports recovered rapidly in recent months from last year's downturn caused by the global financial woes. But the newly emerged sovereign debt crisis in Europe may slow the recovery process, if not reverse it, because the European Union was China's biggest trading partner.
China's gross domestic product surged 11.9 percent from a year earlier in the first quarter, the fastest pace in more than two years.
Among the component indices, the business climate index for manufacturing industry increased 3.5 points to 133.6 in the second quarter. The property sector saw its index fall 8.5 points to 127.3 because the government launched a batch of strict policies in April to curb housing speculation.
Similarly, confidence among real estate businessmen dropped the most -- their confidence index nosedived 23 points from the previous quarter to 109.3 in the three months by June.
The Business Climate Index in China climbed to 135.9 in the April-June period, up 3 points from the first quarter, the National Bureau of Statistics said yesterday.
The Entrepreneurs' Confidence Index, however, dropped for the first time in more than two years to 133, down 2.5 points from the previous quarter, led by dampened confidence among property developers and sellers.
A reading above 100 indicates expansion.
"People remained positive about their business in China, just not so positive as the time before the European sovereign debt crisis," said Li Maoyu, an analyst at Changjiang Securities Co. "Meanwhile, China's attitude on the exit of its stimulus package made entrepreneurs a bit uncertain about the future."
China's decision makers have said the country will still stick to a relatively easy fiscal policy and a proactive monetary policy, even though many developed countries have retreated from a loose stance.
But economists said China has tightened its policies by raising the reserve requirement ratio and reduced the new yuan credit sharply in the first half.
Meanwhile, China's exports recovered rapidly in recent months from last year's downturn caused by the global financial woes. But the newly emerged sovereign debt crisis in Europe may slow the recovery process, if not reverse it, because the European Union was China's biggest trading partner.
China's gross domestic product surged 11.9 percent from a year earlier in the first quarter, the fastest pace in more than two years.
Among the component indices, the business climate index for manufacturing industry increased 3.5 points to 133.6 in the second quarter. The property sector saw its index fall 8.5 points to 127.3 because the government launched a batch of strict policies in April to curb housing speculation.
Similarly, confidence among real estate businessmen dropped the most -- their confidence index nosedived 23 points from the previous quarter to 109.3 in the three months by June.
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