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Chinese businesses less confident: surveys

Xinhua, March 31, 2016 Adjust font size:

Chinese businesses are less optimistic about the economy, central bank survey revealed on Thursday.

Around 59.2 percent of entrepreneurs thought the economic climate "relatively cold" in the first quarter, the People's Bank of China (PBOC) said in a report, citing a survey of over 5,000 entrepreneurs.

Their confidence index came in at 43.7 percent, down 2.3 percentage points from the end of last year.

A government think tank on Monday forecast growth will remain subdued in the first quarter, expanding by around 6.7 percent before gradually stabilizing in the second quarter.

The surveys found more people concerned about employment. Of 20,000 savers surveyed, around 45.1 percent considered the employment situation "severe," and their expectation index was 44.8 percent, down 0.5 percentage points.

Thursday's reports also showed home prices are still a major issue of public concern, with 50.7 percent of people describing prices as "high and hard to accept," down 1.3 percentage points from the previous quarter.

For home prices in the second quarter, 17.6 percent expect prices to rise, while 52.1 percent expect them to be unchanged. Endi