Shanghai's investor confidence gains in Q3
Shanghai's investor confidence rose in the third quarter as the Chinese economy grew steadily, supply-side reforms produced positive effect and global economy recovered.
The Index of Investor Confidence in Shanghai compiled by Shanghai University of Finance and Economics rose by 13.30 points from the second quarter to 116.95 points in the July-September period, a year-on-year growth of 12.44 points.
A reading above 100 points indicates optimism.
"The steady growth of the Chinese economy ... buoyed investor confidence," said Xu Guoxiang and Chang Ning, director of the university’s Applied Statistics Research Center.
"The positive influence of the supply-side reforms and the global cyclical economic recovery boosted the Purchasing Manager's Index and helped it rise for two months, hitting a new high since May 2012," Xu said. "The real economy has improved significantly and vitality enhanced, lifting entrepreneurial confidence to invest."
The component indexes showed the entrepreneurial confidence rising by 8.85 points from the previous quarter to 124.32, while institutional investor confidence picked up 25.34 points to 119.89, and the confidence of individual investors jumped 16.32 points to 99.58 from the April-June period.