Chinese Entrepreneurs’ Economic Sentiment Moderately Improves in Q1 2023: Survey Results

Summary of the Q1 2023 Entrepreneur Survey Report by the Survey and Analysis Division of the People’s Bank of China:

  1. Entrepreneur Macro Economic Heat Index: The index increased by 10.3 percentage points compared to the previous quarter, reaching 33.8%. However, it decreased by 1.9 percentage points compared to the same period last year. Among the surveyed entrepreneurs, 33.9% considered the macro economy to be “cool,” 64.6% considered it “normal,” and 1.5% considered it “warm.”
  2. Product Sales Price Perception Index and Raw Material Purchase Price Perception Index: The product sales price perception index increased by 0.6 percentage points from the previous quarter, reaching 47.8%. However, it decreased by 5.8 percentage points compared to the same period last year. Among the entrepreneurs surveyed, 11.1% believed that product sales prices increased compared to the previous quarter, 73.5% believed they remained “unchanged,” and 15.5% believed they “decreased.”

The raw material purchase price perception index was 58.0%, which decreased by 0.5 percentage points from the previous quarter and 9.1 percentage points compared to the same period last year. Among the entrepreneurs surveyed, 24.2% believed that raw material purchase prices increased compared to the previous quarter, 67.6% believed they remained “unchanged,” and 8.2% believed they “decreased.”

  1. Export Order Index and Domestic Order Index: The export order index increased by 0.5 percentage points from the previous quarter, reaching 39.5%. However, it decreased by 1.5 percentage points compared to the same period last year. Among the surveyed entrepreneurs, 13.7% believed that export orders increased compared to the previous quarter, 51.6% believed they remained “unchanged,” and 34.8% believed they “decreased.”

The domestic order index was 42.9%, which decreased by 1.3 percentage points from the previous quarter and increased by 1.5 percentage points compared to the same period last year. Among the entrepreneurs surveyed, 15.3% believed that domestic orders increased compared to the previous quarter, 55.3% believed they remained “unchanged,” and 29.5% believed they “decreased.”

  1. Capital Turnover Index and Receivables Collection Index: The capital turnover index increased by 3.3 percentage points from the previous quarter, reaching 59.9%, and remained largely unchanged compared to the same period last year. Among the surveyed entrepreneurs, 33.2% believed that the capital turnover situation was “good,” 53.5% believed it was “average,” and 13.3% believed it was “difficult.”

The receivables collection index was 62.2%, which increased by 2.4 percentage points from the previous quarter, but decreased by 1.2 percentage points compared to the same period last year. Among the entrepreneurs surveyed, 32.8% believed that the receivables collection situation was “good,” 58.8% believed it was “average,” and 8.4% believed it was “difficult.”

  1. Business Prosperity Index and Profitability Index: The business prosperity index increased by 2.6 percentage points from the previous quarter, reaching 49.2%, but decreased by 4.1 percentage points compared to the same period last year. Among the surveyed entrepreneurs, 17.0% believed that the business operation was “better,” 64.5% believed it was “average,” and 18.5% believed it was “worse

http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4840144/index.html


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