| China's bankers show doubt about economy |
BEIJING, Sept. 20 -- China's banker confidence index fell in the third quarter, indicating growing pessimism over the economy's future, according to a central bank survey.
The index fell to 42.8 in the third quarter, from 59.9 a quarter earlier, after more than 60 percent of bankers who participated in the survey thought the current economy is "slightly overheated," the People's Bank of China said on its Website yesterday.
"The fall in the index to below 50 shows that most of China's bankers are not optimistic about the current and short-term economic situation," the central bank said.
The survey of senior bankers from domestic and overseas lenders nationwide was conducted by the central bank and the National Bureau of Statistics.
About 46.1 percent of the bankers said they expect the economy to be "slightly overheated" or "overheated" in the fourth quarter, indicating concerns over future economic growth, the survey said.
China's economy soared 11.3 percent in the second quarter, the fastest in a decade.
The Asian Development Bank in early September raised its forecast on China's economic growth from 9.5 percent to 10.4 percent this year amid a continuing investment boom in the country.
Meanwhile, the bank industry prosperity index, which reflects banking conditions, rose slightly to 67.5 in the third quarter from 67.4 in the second quarter, it said.
The report also said 57 percent of bankers believe China's third-quarter monetary policy was "moderate," a figure sharply lower than the previous quarter's 68.9 percent.
The central bank raised benchmark interest rates on lending and deposits on August 19, prompting bankers to expect more austerity measures.
About 27.3 percent of bankers believe the country's monetary policy in the third quarter was "relatively tight" or "excessively tight," up from 11.5 percent in the previous quarter.
The loan demand prosperity index in the third quarter also fell slightly to 66.6 from 66.7 in the previous quarter, the report said.
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