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Enterprise confidence rises strongly

Updated: Oct 29,2015 4:13 PM

The index of enterprise confidence in the Chinese market soared to 55.6 in October from 51.3 in September, signaling enterprises’ positive attitude toward the downward pressure of the world’s second-largest economy, a market research report showed.

The confidence index saw an 8.3 percent monthly increase, the biggest rise since March 2011, according to Deutsche Brse-backed MNI, which conducted a survey of 200 Chinese enterprises listed on the Shanghai and Shenzhen Stock Exchange.

It revealed that enterprises’ new order confidence index was 65.5, production confidence index 60.9, purchasing price index 47.4 and employment index 50.5 in October, all greatly increased from September.

The survey showed that Chinese enterprises hold positive attitudes toward the economy and their own management situation, said Li Jin, deputy director of the China Enterprise Reform and Development Society.

Enterprises’ confidence fluctuated in recent months, but generally appears to be a rising trend, and the number in October was also higher than the lowest number in July, said MNI Chief Economist Philip Uglow.

He also said evidence showed that Chinese enterprises have passed the most serious test in 2015.

Against the economic downward pressure in China, the government has put forward a series of policies to boost the market and corporate vigor.

The government reduced the tax burden for small and micro enterprises, and streamlined registration approvals for enterprises.

China’s central bank also eliminated the controls on deposit interest rates and lowered the one-year benchmark interest rates on Oct 23, the fifth adjustment this year.