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Chinese Investing, Home Buying Sentiments Improved in Third Quarter 2022-10-12
Chinese Investing, Home Buying Sentiments Improved in Third Quarter
Chinese residents' willingness to invest money and purchase housing recovered in the third quarter as the country’s economy is improving, based on the findings of surveys compiled by the central bank.
Some 17.1 percent of polled residents said that they intend to purchase housing in the fourth quarter, rising from 16.9 percent a quarter earlier, according to a series of survey reports issued by the People’s Bank of China yesterday. One of the reasons may be that fewer people believe housing prices are going to increase. Some 14.8 percent of residents expected home prices to keep rising, down from 16.2 percent.
The ratio of residents that intend to "invest more" in the fourth quarter reached 19.1 percent, surging by 1.2 percentage point from a quarter ago. The poll targeted 20,000 households of urban depositors in 50 Chinese municipalities. The share of those intending to "spend more" was 22.8 percent, down by 1 percentage point. The portion of people choosing to "save more" was 58.1 percent, down by 0.3 percentage point.
The entrepreneurs’ macroeconomic heat index reached 26.9 percent, up by 0.4 percentage point, based on the outcome of a survey targeting over 5,000 industrial enterprises.
The bankers’ macroeconomic heat index was 19.9 percent in the third quarter, growing by 2.1 percentage points from the second quarter, according to the findings of a survey with more than 3,200 banking institutions. They predicted the index to jump by 9.8 percentage points to 29.7 percent in the fourth quarter.
Residents' income sentiment index rose by 2.5 percentage points to 47 percent in the third quarter. The income confidence index climbed by 0.8 percentage point to 46.5 percent.
Source: Yicai Global
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