Entrepreneur confidence index down in Q4: PBOC survey

BEIJING - Chinese entrepreneurs are not as confident about the macro economy as they were in the previous quarter, said a quarterly survey by China's central bank Thursday.

Based on a survey of over 5,000 industrial businessmen nationwide, the People's Bank of China (PBOC) set the entrepreneur confidence index at 46 percent for the fourth quarter, down from 50.5 percent in the July-Sept period and much lower than the 61 percent registered a year ago.

The index reflects the views and opinions of Chinese business leaders on the economic climate and business prospects.

Among those surveyed, 55.8 percent said the current macro economy is "relatively cool," while 43 percent considered it "normal."

The sentiments were echoed by Chinese bankers as another PBOC poll of over 3,000 bank heads showed 65.2 percent believe the economy is "relatively cool" and 34.3 percent said it is "normal."

Given the continued economic slowdown, China is pushing forward structural reforms to keep growth within a proper range.

In the first three quarters, the economy expanded 6.9 percent year on year, generally, in line with the government target of around 7 percent.

The country's economic growth still enjoys sound fundamentals, with enormous potential, huge resilience and ample room for further growth, a statement released after the Central Economic Work Conference said Monday.