Sophia Liu, Media Communications Head of National Bureau of Statistics of China (NBS), informed Business News about Domestic Market Confidence that not yet increased. “The lowest level of Market Confidence was in March 2009. But, on the average, Market Confidence Index (MSCI) not yet increased too significantly. It was still at a low level.
In various analysis on China in the past few years, it seemed as if China’s economy had awakened and was to accelerate rapidly. But, such external perception was quite different from domestic perception.
“China’s economy was a fantastic phenomena in modern history. Everybody was amazed at China’s performance. A small positive progress showed by China was responded extraordinarily. This was the reason why the external world immediately declared that China’s economy already recovered and improved much faster than early predictions. We were, indeed, very proud of this appreciation. But, behind the above information, domestically, China was responsible to acquire the actual information about the general perception (MCI) whether it really had recovered. Facts showed that MCI not yet rose quite significantly to indicate economic improvement or fast recovery”.
In July 2009, MCI was estimated to stand averagely at 86.0%-87.0% or maximum 87.5%. It means that it was much below the average rate of 92.5 that happened in 2008. “MCI’s analysis showed that domestic real sector was in a “waiting” position. There had been no aggressive maneuvers. The pulse had increased, but not too rapidly. NBS predicted that the pulse would return to around MCI 90.0 level in September if the current trend could be maintained. The condition was very vulnerable for it to go down. Massive efficiency patterns in all over the world would certainly have an impact on the acceleration of recovery process. Efficiency was a very reasonable thing after the world was hit by a severe crisis in the last one and a half year.