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Central Bank Survey Finds More Dissatisfaction with Prices Levels

06-19 16:29 Caijing
The percentage of respondents who think the current price levels are “too high” rose to 65.7 percent, up 2.8 percent from the previous quarter.

A central bank survey found that more Chinese residents are dissatisfied over the nation’s price levels than that in the previous quarter, with an overwhelming majority think the current house prices are “unacceptable.”

The quarterly survey, released today by the People’s Bank of China, showed that the price satisfaction index fell 1.5 percent from the first quarter to 18.2 percent. The percentage of respondents who think the current price levels are “too high” rose to 65.7 percent, up 2.8 percent from the previous quarter.

The inflation expectations index grew 3.4 percent to 65.5 percent, with 35.6 percent of respondents expect prices to “rise” and 43.8 percent believe prices in the next quarter will remain “basically unchanged”, the survey showed.

The same survey also found Chinese residents polled in the 50 Chinese cities are less confident over their income in the second-quarter this year. The corresponding index shed 1.7 percent from the previous quarter to 53.2 percent, the lowest since the survey started in 1999.

On home prices, 68.5 percent of respondents marked the current levels as “to high to be accepted”, compared with 67.7 percent in the first quarter.

29.4 percent of them are anticipating higher home prices in the next quarter, up 2.8 percentage points from the first quarter. And 15.7 percent of respondents said they wish to buy an apartment over the next three months, up 1.6 percent from the previous quarter.

The central bank also conducted a survey of bankers across the country, jointly with the National Statistic Bureau. It found that bankers’ confidence over macro economy fell, with 32.1 percent of them anticipated a “little bit of depressed” economy in the coming quarter.

The survey also saw a rise in approved loans. The loan approval index grew 2 and 14.8 percent from last quarter and a year ago, respectively.

 

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