SHANGHAI, China, Feb. 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 February Xinhua Finance/MNI China Business Sentiment Survey. The results of the survey suggest that overall Chinese business conditions deteriorated sharply in February as severe winter storms cut into production and already rising input costs rose even more.
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The data, as well as comments from companies that took part in the survey, suggest Chinese companies were hit hard by the storms, which drove up prices, caused power cuts and made it harder for them to get their goods to market.
The overall conditions index hit a new low of 60.31, down from 67.72 in January and the lowest result in the three-year history of the survey. But respondents seem to see the situation as temporary; the index showing expectations for business conditions in three months rose to 71.65 in February from 66.93 in January.
Production indexes fell sharply in February while the input prices index rose to the highest level yet in the survey's history.
The monthly survey was conducted February 13-26.
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.
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.
