China's entrepreneur confidence index at highest since 2012

BEIJING - Chinese entrepreneurs are more confident about the economy in the third quarter of 2017 than in Q2, with an index released by China's central bank reaching the highest since Q1 2012.

Based on the survey of over 5,000 industrial companies, the People's Bank of China (PBOC) set the entrepreneur confidence index at 68.7 percent for Q3, 3.3 percentage points higher than Q2 and 17.5 percentage points higher than Q3 2016.

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

Among those surveyed, 66.9 percent considered the current macro economy "normal," while 30.7 percent said economic activity was "relatively cool," the report said.

Another PBOC poll of over 3,000 bankers showed the banker confidence index rose 7.5 percentage points from Q2 to 75.3 percent in Q3.

China's GDP grew 6.9 percent in Q2, flat with the previous quarter and above the government's annual target of around 6.5 percent.