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Chinese bankers show most upbeat tone
Source: Xinhua |
September 20, 2010, Monday
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Print Edition
Print Edition
CHINESE bankers have expressed the most confidence in the macro-economy and the banking industry in four years as they forecast cooler economic growth and an unchanged monetary policy in the rest of 2010, according to a central bank's survey made public yesterday.
The bankers' confidence index hit 73.1 percent in the third quarter, up 9.1 percentage points from three months earlier, the highest since the second quarter of 2006, according to the survey result posted on the website of the People's Bank of China, the country's central bank.
The index of bankers' expectations of the macro-economy fell to 50.6 percent, a loss of 2.7 percentage points from a quarter ago, the first decline since the end of 2009.
China's economy grew 11.9 percent in the first quarter on the back of an export recovery and credit boom as well as a lower comparison basis a year ago. It then slowed to 10.3 percent in the second quarter as the government shifted its attention from high growth to sustained development.
The survey also found that nearly 70 percent of the bankers thought the current relatively easy monetary policy "appropriate," and more than two-thirds of them said they foresaw no changes in policy.
They also expected a stable and sound development of the banking sector this year, with new lending cooling after the government warned last year's credit growth could trigger bad loan risks.
The bankers' confidence index hit 73.1 percent in the third quarter, up 9.1 percentage points from three months earlier, the highest since the second quarter of 2006, according to the survey result posted on the website of the People's Bank of China, the country's central bank.
The index of bankers' expectations of the macro-economy fell to 50.6 percent, a loss of 2.7 percentage points from a quarter ago, the first decline since the end of 2009.
China's economy grew 11.9 percent in the first quarter on the back of an export recovery and credit boom as well as a lower comparison basis a year ago. It then slowed to 10.3 percent in the second quarter as the government shifted its attention from high growth to sustained development.
The survey also found that nearly 70 percent of the bankers thought the current relatively easy monetary policy "appropriate," and more than two-thirds of them said they foresaw no changes in policy.
They also expected a stable and sound development of the banking sector this year, with new lending cooling after the government warned last year's credit growth could trigger bad loan risks.
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