Indices trumpet business confidence
By Wang Yanlin |
October 14, 2010, Thursday
|
Print Edition
Print Edition
ENTREPRENEURS expressed greater confidence in China's economy in the third quarter of this year while an index measuring the business climate also improved, two surveys by the National Bureau of Statistics showed yesterday.
The Business Confidence Index in China gained 2.9 points from the previous quarter to 135.9 between July and September. The Business Climate Index rose 2 points to 137.9 in the same period.
An index reading above 100 indicates optimism or expansion while one below that implies the opposite.
"China's stable economic growth has boosted people's faith in doing business here," said Shi Lei, an economics professor at Fudan University. "The country is expected to launch more measures in the final quarter to sustain the rapid growth. That can help maintain people's high expectations."
China's gross domestic product grew 11.1 percent in the first half of this year, but the rate moderated to 10.3 percent in the second quarter from 11.9 percent in the first three months.
Some analysts forecast the GDP may grow by a single digit in the third quarter while the Asian Development Bank predicted economic growth at 9.6 percent for the whole year.
The bureau is due to release China's key economic data, including GDP, consumer prices, retail sales and industrial production, on October 21.
Entrepreneurs in the information technology and software sector expressed the highest confidence, with the index at 150. The index of manufacturers gained 2.4 points from the previous quarter to 133.4, while confidence among property developers rose sharply by 11.4 points to 120.7.
The Business Confidence Index in China gained 2.9 points from the previous quarter to 135.9 between July and September. The Business Climate Index rose 2 points to 137.9 in the same period.
An index reading above 100 indicates optimism or expansion while one below that implies the opposite.
"China's stable economic growth has boosted people's faith in doing business here," said Shi Lei, an economics professor at Fudan University. "The country is expected to launch more measures in the final quarter to sustain the rapid growth. That can help maintain people's high expectations."
China's gross domestic product grew 11.1 percent in the first half of this year, but the rate moderated to 10.3 percent in the second quarter from 11.9 percent in the first three months.
Some analysts forecast the GDP may grow by a single digit in the third quarter while the Asian Development Bank predicted economic growth at 9.6 percent for the whole year.
The bureau is due to release China's key economic data, including GDP, consumer prices, retail sales and industrial production, on October 21.
Entrepreneurs in the information technology and software sector expressed the highest confidence, with the index at 150. The index of manufacturers gained 2.4 points from the previous quarter to 133.4, while confidence among property developers rose sharply by 11.4 points to 120.7.
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