China's business index improves in Q4: central bank

BEIJING -- Chinese businessmen reported better operational conditions for the fourth quarter of 2016 and were more confident about the broader economy, said the central bank Thursday.

The business index grew to 52.6 percent from 50.3 percent in the third quarter and the profitability index rose to 57.1 percent from 54.7 percent, according to a survey by the People's Bank of China (PBOC).

In addition, the economic vitality index and the economic confidence index improved over the previous quarter, indicating a brighter outlook.

A separate PBOC survey found that Chinese bankers also thought economic vitality had recovered between October and December.

According to the survey, 81.1 percent of the polled bankers said monetary policy was "proper," up from 78.2 percent in the third quarter.

China's economy has been stabilizing in recent months. Although full-year statistics have yet to be released, all indicators suggest the country is on track to meet its GDP target of 6.5 to 7 percent in 2016.