The results of the survey assumes significance given the current geo-economic tensions with the United States.
On Monday, going by the results of a survey that was published by China’s central bank – the People’s Bank of China, business confidence among entrepreneurs in the country has worsened in the fourth quarter in comparison with the equivalent quarter last year. The current business confidence was at the lowest since the second quarter of 2017.
As per the survey’s results, the entrepreneurs’ confidence index dropped to 67.8% in the fourth quarter, a drop of 3.4 percentage points lower than in the third quarter.
Further, as per a second separate PBOC survey of urban households, there is a decline in the number of respondents believing housing prices will continue to rise in the next quarter.
The survey found that 27.4% expect a price increase, down from 33.7% in the survey conducted three months ago.