Chinese Entrepreneurs' Confidence Has Dropped To A Six Year Low.

Although some economic indicators show that China's economy is improving continuously, Chinese entrepreneurs do not think so.

China's previously released PMI data were also unsatisfactory. This shows that China's manufacturing industry has shrunk for two consecutive months, coupled with a sluggish stock market. China's GDP growth slowed to 6.4% in the three quarter.

ANZ Bank economist Liu Ligang and Lin Mu reported that in view of the loose

And expansionary fiscal policy gradually worked. In the fourth quarter, GDP growth rate rebounded to 6.8%, and the annual growth rate was 6.8%.

The current deposit reserve rate is still quite high, and the Central Bank of China has dropped 50 basis points in the fourth quarter.

China

The three quarter survey showed that the macroeconomic heat index of entrepreneurs was 24.5, down 4.8% from the previous quarter, a decrease of 7.7% compared with the same period last year.

Among them, 52.4% of entrepreneurs believe that the macro economy is "cold" and only 1.3% think it is "hot".

The entrepreneur confidence index was 50.5, down 7.8% from the previous quarter, down 13.1% from the same period last year.

This data is similar to PMI, and the value is higher than 50, indicating that the economy is relatively strong.

"The results of the three quarter survey of the Central Bank of China are disappointing," said Chang Liu and Mark Williams of Kay investment.

"The macroeconomic index of entrepreneurs has declined to the lowest level since 2009, and the confidence index of entrepreneurs has also deteriorated. It may fall below 50 for the first time since 1999."

Despite the poor data, Kay voted that the report is not entirely pessimistic, because these indices are tracking economic individuals, and the actual situation may not be so bad.

"These indices may be related to experience.

At a similar level, it has been quite stable over the past three years.

Domestic and foreign orders declined in the three quarter, but they are still higher than the first quarter level.

The export orders index was 46.3, down 2.4% from the previous quarter, down 3.6% from the same period last year.

The domestic order index was 43.3, down 2.9% from the previous quarter, a decrease of 3.6% compared with the same period last year.

Compared with the previous quarter, the credit demand and household income index declined in the three quarter, which made it difficult for China's economy to change from investment to consumption.

Kay said that the fall of the stock market is the catalyst for the two indexes weakening, which is similar to that of the stock market bubble in 2007 and 2008. The fall in share prices in the three quarter has led to a reversal of the situation.

Many investors have placed the hope of China's economic recovery in the recent improvement of the real estate market. Interestingly, respondents' willingness to buy houses in the three quarter decreased compared with the two quarter, but still higher than the same period last year.

"Housing sales rebound is a more positive sign in recent China, but in view of inventory and other factors, China does not reproduce the building boom."