December 28, 2022
1 min read

Business confidence shifts into lower gear in China

Accordig to the survey, more than half of business owners claimed that the economy is cooling and the business climate getting weaker…reports Asian Lite News

China’s economic recovery is still challenged by weak business sentiment and shrinking industrial orders, according to a new survey, as economists warn mounting external challenges could derail a full recovery, media reports said.

A survey conducted by China’s central bank in the fourth quarter shows that business confidence and activity in the world’s No 2 economy are still at low levels almost three years after the start of the coronavirus pandemic, indicating a bumpy recovery ahead, the South China Morning Post reported.

More than half of business owners claimed that the economy is cooling and the business climate getting weaker, according to the People’s Bank of China, which published the poll of 5,000 entrepreneurs in the industrial sector on Tuesday.

China’s leadership faces a daunting task to stabilise the economy, which has been hit hard by years of hardline Covid controls that were only dropped in a sudden policy shift in early December. The relaxation of zero-Covid has unleashed China’s worst wave of virus outbreaks to date.

The central bank survey also showed that two indices gauging export orders and entrepreneurs’ assessment of overall economic performance fell to the lowest level since the second quarter of 2020. The export order index dropped to 38.9 in the fourth quarter from 42.2 in the previous three months, and more than a quarter of entrepreneurs surveyed reported lower orders, the central bank said, SCMP reported.

ALSO READ: China irked by Japanese delegation’s visit to Taiwan

Previous Story

Japan’s Kishida rules out snap elections

Next Story

US winter storm death toll rises

Latest from -Top News

TIES WITH CHINA: Is Bangladesh Going Lanka Way?

Plans for nine Special Economic Zones, including Chinese-developed sites in Chattogram and Chandpur, promise jobs but risk creating enclaves where Beijing’s economic priorities overshadow Bangladesh’s….reports Asian Lite News On a humid March

Khaleda Zia’s Son Return Looms as Yunus Faces Heat

The core question remains whether Rahman can provide leadership in politically turbulent times in Bangladesh….reports Asian Lite News Speculation is mounting in Bangladesh over the possible return of Tarique Rahman, son of

India Eyes Top 5 Spot in Global Entertainment

With focused investments, policy support, and infrastructural upgrades, India is on track to position itself as one of the top five live entertainment destinations globally by 2030…reports Asian Lite News Fueled by
Go toTop

Don't Miss

Data leak: Chinese authorities grill Alibaba executives

The leaked data from the Shanghai National Police (SHGA) database

Pakistan committed to security of Chinese citizens, says Dar

Dar confirmed that most attackers involved in recent incidents have