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Business sentiment perks up

By Xin Zhiming | China Daily | Updated: 2009-03-12 07:50

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.

Business sentiment perks up

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