SME business confidence edges higher
Updated: 2013-01-08 23:03
By WANG XIAOTIAN (China Daily)
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"Enterprises feeling an economic warming usually lag behind actual economic data. Plus, this round of recovery is still based on government investment, and tends to favor large companies first, especially State-owned enterprises."
Wang added that in 2013, SMEs might be less optimistic on profit levels, as prices increase at a faster pace compared with last year, and enterprises have to re-stock inventories.
The bank figures showed that financing costs for SMEs were rising.
In the fourth quarter, nearly 45 percent of companies said their bank lending interest rates had increased, in contrast to the first quarter's 23 percent.
Ku said that lending risks for SMEs had intensified significantly in the second and third quarters of 2012, and that the pricing of loans in the months since then had increased.
The report suggested that multiple factors, including a weak international economy, domestic economic restructuring and a slowdown in fixed-asset investment, had led to declines in SME confidence during the second and third quarters.
However, Jungkiu Choi, head of consumer banking at Standard Chartered China, said the challenges that SMEs now face were "temporary".
"China's SMEs have come through many domestic and international challenges with strong vitality and admirable energy," he added.
The report added that the country's economic recovery will become more obvious in 2013.
Contact the writer at wangxiaotian@chinadaily.com.cn
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