Survey: Chinese bankers less pessimistic in macro economy in Q1

Special Report:Global Financial Crisis

BEIJING, March 14 (Chinese media) -- Chinese bankers are becoming less pessimistic

about the macro economy during the first quarter of 2009, said a survey on

Friday.

The survey, which reflected quarter-on-quarter economic changes, was

conducted jointly by the central bank and the National Bureau of Statistics.

The survey's sample was from headquarters officials and local branch

directors from around 2,900 banking institutions.

The bankers' confidence index over the macro economy fell 1.7 percentage

points to 25.6 percent in the first quarter, but the decline slowed down 17.1

percentage points, it said.

A reading on those economic indexes above 50 percent suggests expansion,

while below 50 indicates contraction.

A total of 50 percent of the bankers believed the monetary policy during

the first quarter was "appropriate", down 6.5 percentage points from the

previous quarter, while 45.1 percent of them said the policy was "a bit loose",

up 26.2 percentage points.

Driven by the 4-trillion-yuan (588 billion U.S. dollars) stimulus package,

the credit loans in the first two months jumped to 2.69 trillion yuan, up from

1.64 trillion yuan the same period last year. Aggrandized credit loans may have

added concerns to those bankers.

More than half of the bankers predicted the monetary policy would remain

the same in next quarter, up 7.6 percentage points.

In addition, index of demand for loans rose 5.6 percentage points to 67.5

percent in the first quarter, as demand for loans in agricultural, manufacturing

and non-manufacturing sectors rose 3.8, 3.8 and 5.4 percentage points to 62.6

percent, 62.5 percent and 63.5 percent, respectively.

Demand for loans in business, fixed-asset investment and consumption also

rose 3.2, 5.6 and 7.1 percentage points to 65.8 percent, 62.5 percent and 58.9

percent, respectively.

The banking industry climate index fell 1.7 percentage points to 63.8

percent, but the decline was 1.3 percentage points slower than the previous

quarter, the survey showed.