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Chinese Bankers See The Economy Heating Up - PBOC Survey

CHINA PRESS
MNI (Singapore)

Chinese bankers believe China’s economy is improving with the Banker Macroeconomic Heat Index rebounding in Q3 for the first time since Q2 2021, according to a nationwide banker survey released on the People’s Bank of China website. The index rose 2.1 percentage points from the previous quarter to 19.9% in Q3. Around 61% of banks considered the current economic climate “relatively cool”, down 4.2 pps from Q2. Bankers expect the heat index to rise to 29.7% in Q4, the survey showed. Meanwhile, the overall loan demand index was 59%, up 2.4 pps from Q2, though 9.3 pps lower than the same period last year. Borrowing demand from manufacturers, infrastructure builders and retailers was recovering, though not for property developers.

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