More Signs China Economy Stabilizing

Chinese entrepreneurs’ confidence in domestic economy has been restored as the economy shows more signs of stabilizing, according to findings of a recent survey, Xinhua reported. Organizers of the survey include several departments under the State Council and the National Bureau of Statistics. The result was based on a survey of 1,960 enterprises nationwide. The survey revealed that 20.3% of the entrepreneurs think the economy is running well, 2.7 percentage points higher than the previous year, and 43 percent of them describe the economy as average, 4.9 percentage points higher. Those who think the economy is bad accounted for 36.7% of respondents, 7 percentage points lower compared with a year ago. The survey showed that the median forecast of the respondents for the country’s GDP growth was 6.5% in 2016 and 6.3% in 2017. It also showed that entrepreneurs in several industries were more optimistic on the economy. Those industries included agriculture, power supply, information technology, leasing and other services as well as drug, auto and electronic equipment manufacturing.