Investors upbeat on business outlook
By Joy Wang |
July 14, 2012, Saturday
|
Print Edition
Print Edition
INVESTORS in China are less confident about their business outlook although they remain optimistic on the whole, a survey showed yesterday.
The Investor Confidence Index, compiled by the China Economic Monitoring Center, settled at 121.2 in the second quarter, down 1.8 points from that in the first three months, the National Bureau of Statistics said. A reading above 100 points indicates optimism among the more than 20,000 investors being interviewed.
"Investor sentiment is a reflection of China's economic conditions," said Pan Jiancheng, deputy director of the center. "On the whole, interviewees are still confident about their business outlook."
China's gross domestic product eased for a sixth quarter in the April-June quarter, expanding by 7.6 percent. It was also the first time in three years that China reported a growth rate below 8 percent.
Some analysts expect China?s economy to bottom out in the third quarter but others fear a prolonged downturn.
The survey showed investors in industries such as information technology, services, and manufacturing were more upbeat, while those in the property sector were the least optimistic.
But the component confidence index among property developers still saw a 1-point increase over the first quarter to 100 in the second quarter.
Li Maoyu, an analyst at Changjiang Securities Co, said easing policies may boost investor sentiment in the next few quarters. "It is a piece of good news for companies that there will be easier and less expensive loans," Li said.
The central bank last week lowered interest rates for the second time in one month in the latest move to spur growth.
The Investor Confidence Index, compiled by the China Economic Monitoring Center, settled at 121.2 in the second quarter, down 1.8 points from that in the first three months, the National Bureau of Statistics said. A reading above 100 points indicates optimism among the more than 20,000 investors being interviewed.
"Investor sentiment is a reflection of China's economic conditions," said Pan Jiancheng, deputy director of the center. "On the whole, interviewees are still confident about their business outlook."
China's gross domestic product eased for a sixth quarter in the April-June quarter, expanding by 7.6 percent. It was also the first time in three years that China reported a growth rate below 8 percent.
Some analysts expect China?s economy to bottom out in the third quarter but others fear a prolonged downturn.
The survey showed investors in industries such as information technology, services, and manufacturing were more upbeat, while those in the property sector were the least optimistic.
But the component confidence index among property developers still saw a 1-point increase over the first quarter to 100 in the second quarter.
Li Maoyu, an analyst at Changjiang Securities Co, said easing policies may boost investor sentiment in the next few quarters. "It is a piece of good news for companies that there will be easier and less expensive loans," Li said.
The central bank last week lowered interest rates for the second time in one month in the latest move to spur growth.
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