Chinese economy stabilizes after slowdown

SHANGHAI - The Chinese economy has become more stabilized with its slowdown ended, according to survey results issued on Tuesday by the Association of Chartered Certified Accountants (ACCA) and the Institute of Management Accountants (IMA).

The survey, polling 2,000 financial professionals working in companies of various sizes, showed market confidence in China has been recovering.

China's economic slowdown has become more manageable since pressures on cash flows and new orders lessened at the beginning of 2013, the ACCA and IMA survey said.

Financial professionals participating in the survey said China's commercial construction accelerated in the first quarter, which ended a whole year of negative development in 2012.

Twenty-four percent of the interviewees said they were more confident about economic prospects than three months ago. However, 54 percent of those polled believed the global economy would worsen or stagnate.