(Yicai Global) April 4 -- Chinese people became more willing to consume and invest in the first quarter of this year, while fewer were inclined to save money, according to a new report released by the People’s Bank of China.

Of the 20,000 depositors the central bank surveyed, 23.3 percent expressed a tendency to consume more in the three months ended March 31, up from 22.8 percent in the previous quarter, the PBOC’s Depositor Survey Report showed. Almost 19 percent had a greater willingness to invest, increasing from 15.7 percent.

The share of depositors who preferred to save more fell to 58 percent, down from a record high of 61.8 percent in the fourth quarter of last year, according to the survey’s findings.

About 69.7 percent of depositors saw no significant change in income in the first quarter, while 15.9 percent saw an increase and 14.5 percent a decline.

Despite the first-quarter employment sentiment index soaring 9.4 points to 52.3 from the previous quarter, 45.6 percent of the depositors indicated that the jobs market was ‘average,’ and 41.2 percent said it was ‘difficult’ or they were ‘not sure.’

Regarding house prices, just over 54 percent expect them to remain unchanged this quarter, while 18.5 percent believe they will increase, and 14.4 percent that they will fall.

The PBOC also released the results of its first-quarter Entrepreneur Survey Report and the Banker Survey Report. 

The business climate index rose 2.6 points to 49.2 from the last quarter of 2022, but fell 4.1 points from a year earlier, the Entrepreneur Survey Report showed. Some 17 percent of respondents indicated that their business performance was ‘good,’ 64.5 percent said it was ‘average,’ and 18.5 percent that it was ‘poor.’

From the profitability point of view, 42.9 percent of the entrepreneurs polled said their profits or losses remained ‘unchanged,’ 26.4 percent that ‘profits rose or losses narrowed,’ while 30.7 percent saw a ‘profits decline or losses widen.’

The overall loan demand index surged 19 points to 78.4 in the first quarter from the previous one, the Banker Survey Report showed. The figure rose 6.1 points on a yearly basis.

Editor: Futura Costaglione