Business sentiment perks up

Business owners in China have expressed confidence in the country's economic prospects thanks to the recent stimulus measures, even as they maintained a cautious outlook, according to a survey by the central bank.

The macroeconomic index, which was compiled based on more than 5,500 questionnaires, slumped to -38.6 percent, compared with -32.7 percent from the fourth quarter of 2008, which "almost touched the lowest level since 1993", according to a statement by the People's Bank of China on its website.

The 5.9 percentage point quarter-on-quarter slump in the index was nearly 30 percentage points less than that in the previous quarter, showing improving confidence in the country's growth prospects, according to the statement.