Confidence in business sector rises

Confidence in China's business sector and its ability to contribute to economic growth has risens in the second quarter, according to a People's Bank of China survey released on Friday.

The bank's confidence index, an indicator of the expectation for economic growth in the near future, was 43.7 percent, up 5.6 percentage points compared to the first quarter.

The survey showed 74.7 percent of respondents felt the monetary policy being adopted was appropriate, up by 5.6 percentage points.

The survey found 21.2 percent of bankers believed the monetary policy would be relatively loose in the next quarter.

In a separate survey conducted for entrepreneurs, the entrepreneurs' confidence index is 49 perc ent in the second quarter, 5.3 percentage points higher compared to the first quarter.

The profitability index was 52.7 percent, up 5.5 percentage points.

Around 3100 head of banking institutions and 5000 entrepreneurs nationwide were surveyed, according to the central bank.

In its annual report released earlier this month, the central bank pledged to continue to adopt prudent monetary policy and to create an appropriate financial environment for reforms and adjustment.