SHANGHAI, June 29 .Xinhua-PRNewswire/ -- Xinhua Finance (TSE Mothers: 9399) and Market News International (MNI), a part of the news service line of Xinhua Finance, today announced the June Xinhua Finance/MNI China Business Sentiment Survey. The results of the survey show a second consecutive month of deteriorating conditions for Chinese businesses, as companies face increasingly difficult conditions and scale back production growth as new orders slow and demand pressures mount for inputs and skilled workers.
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Key indexes in the survey fell for the second consecutive month, as companies reported being hit by the rising yuan, government efforts to slow credit growth and difficulties in obtaining skilled workers and raw materials at a good price.
While most of the survey indexes remained well in positive territory, key indexes showed a continuing slowdown from the successive record results experienced in surveys until May this year.
Prior to the May survey, results suggested an increasingly sharp upswing in sentiment amid a broad reacceleration in economic activity in China following a moderate slowdown in the second half of last year.
The monthly survey was conducted June 11-26 and comes amid rising interest rates and other measures imposed by the government to slow what some say is an overheating economy.
Since its inception in January, 2005, the survey has accurately tracked and predicted overall Chinese economic conditions, providing important intelligence ahead of government data. The survey has been especially important in indicating turnarounds in the economy, such as last summer's slowdown or the pickup in activity seen since last fall.
To receive a full version of the survey, or to find out more about Xinhua Finance and Market News International, please contact us via mni@xinhuafinance.com .
Notes to Editors:
About Xinhua Finance Limited
Xinhua Finance Limited is China's premier financial information and media service provider and is listed on the Mothers Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's financial markets and the world, Xinhua Finance serves financial institutions, corporations and re-distributors through five focused and complementary service lines: Indices, Ratings, Financial News, Investor Relations, and Distribution. Founded in November 1999, the Company is headquartered in Shanghai, with offices and news bureaus spanning 11 countries worldwide.
For more information, please visit http://www.xinhuafinance.com .
About Market News International
Market News International (MNI), a Xinhua Finance company ( http://www.xinhuafinance.com ), is a financial news and information company dedicated to the global fixed income and foreign exchange markets. MNI joined the Xinhua Finance family in March 2004, bringing its niche expertise and extensive distribution network. Headquartered in New York, MNI has news bureaus and offices throughout the US, Europe and Asia.
With more than twenty years of history, MNI is a fully accredited news agency providing focused, timely, relevant and critical intelligence for market professionals. Its press credentials are accepted by all operations of the U.S. Government, including the White House, the Federal Reserve, both houses of Congress, all major agencies and cabinet departments, all similar government operations in the G-7 countries, as well as by supranational organizations such as the World Bank and the International Monetary Fund.
