omniture

Xinhua Finance/MNI China Business Survey: Dramatic Order Slowdown

2008-09-26 11:24 727

SHANGHAI, China, Sept. 26 /Xinhua-PRNewswire/ -- Chinese companies are facing a sharp slowdown in new order growth just as the burden of fast-rising input prices appears to be lifting, the results of the latest Xinhua Finance/MNI China Business Sentiment Survey indicate.

(Logo: http://www.prnasia.com/sa/200611140926.gif )

The headline sentiment index for current business conditions in September rose slightly to 58.24 from August's 56.46, which was the second lowest reading since the survey began in January, 2005. The index was at 67.31 in September last year.

Other indexes show a quickly shifting playing field for Chinese businesses: new order growth, which has remained fairly strong in recent month despite problems elsewhere, saw a sharp decline in September; the rise in input costs, which has stayed high for the last year or so, appears to have sharply tapered off. So has the increase in prices companies are able to charge, however.

Despite the slowing pace of the input cost rise, companies overall are reporting a decline in the improvement of their overall financial positions.

The survey was released today by Xinhua Finance (TSE Mothers: 9399) and Market News International (MNI), a part of the news service line of Xinhua Finance.

The monthly survey was conducted September 8-23.

Since its inception in January, 2005, the survey has accurately tracked and predicted overall Chinese economic conditions, providing important intelligence ahead of government data.

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 ("XFL") 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's proprietary content platform, comprising Indices, Ratings, Financial News, and Investor Relations, serves financial institutions, corporations and re-distributors worldwide. Through its subsidiary Xinhua Finance Media Limited (NASDAQ: XFML), XFL leverages its content across multiple distribution channels in China including television, radio, newspaper, magazine and outdoor media. Founded in November 1999, XFL 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.

Source: Xinhua Finance Limited
Related Stocks:
OTC:XHFNF
Keywords: Food/Beverages