(Yicai Global) Sept. 19 -- Entrepreneurs are becoming optimistic about the direction of the macro economy, according to a survey by China's central bank.
The Entrepreneur Confidence Index came in at 51.2 percent in the third quarter, up 2.2 percentage points from the previous quarter and up 0.7 percentage points from last year, according to entrepreneur questionnaires released by the central bank yesterday.
Some 50.9 percent of the entrepreneurs surveyed believe the macro economy is "relatively cold," 47.8 percent feel it is "normal," and 1.3 percent think that it is "relatively hot."
In addition, they feel there has been a turnaround in both the business climate and earnings. Specifically, the business climate index stood at 50.3 percent, up 2 percentage points quarter-on-quarter, and the earnings index reached 54.7 percent, up 2 percentage points quarter-on-quarter.
China's Entrepreneur Confidence Index has been on the decline since the first quarter of 2014 and fell to a record low of 43.7 percent in the first quarter of this year. It then picked up to above 50 percent in the second quarter and rebounded to 51.2 percent in the third quarter.
The entrepreneur questionnaire is a quarterly survey launched by the central bank in 1992. The survey targets more than 5,000 industrial enterprises across China, excluding Tibet on their overall production, production elements, market supply and demand, capital conditions, costs and benefits and investment.