Download → Entrepreneur Survey Report (Q1 2023).pdf

The results of the entrepreneur survey conducted by the People's Bank of China (PBOC) in Q1 2023 are as follows.

I. Entrepreneur Macroeconomic Heat Index

The entrepreneur macroeconomic heat index registered 33.8 percent, increasing 10.3 percentage points quarter-on-quarter (q-o-q) and decreasing 1.9 percentage points year-on-year (y-o-y). Among the entrepreneurs surveyed, 33.9 percent considered the macroeconomic climate “ relatively cold ” , 64.6 percent regarded it as “normal”.

II. Product Selling Price Sentiment Index and Raw Material Purchasing Price Sentiment Index

The product selling price sentiment index posted 47.8 percent, increasing 0.6 percentage points q-o-q and decreasing 5.8 percentage points y-o-y. Compared with the previous quarter, 11.1 percent of the entrepreneurs surveyed considered the current product selling price “ increased ” , while 73.5 percent and 15.5 percent considered it “ unchanged ” and “ decreased ” respectively. The raw material purchasing price sentiment index reached 58.0 percent, decreasing 0.5 percentage points q-o-q and 9.1 percentage points y-o-y. Compared with the previous quarter, 24.2 percent of the entrepreneurs surveyed considered the raw material purchasing price “increased”, while 67.6 percent and 8.2 percent considered it “unchanged” and “decreased” respectively.

III. Export Order Index and Domestic Order Index

The export order index was 39.5 percent, increasing 0.5 percentage points q-o-q, and decreasing 1.5 percentage points y-o-y. Compared with the previous quarter, 13.7 percent of the entrepreneurs surveyed considered the number of export orders “ increased ” , 51.6 percent considered it “unchanged”, and 34.8 percent considered it “decreased”. The domestic order index posted 42.9 percent, decreasing 1.3 percentage points q-o-q and increasing 1.5 percentage points y-o-y. Compared with the previous quarter, 15.3 percent of the entrepreneurs surveyed considered the number of domestic orders “ increased ” , 55.3 percent considered it “unchanged”, and 29.5 percent considered it “decreased”

IV. Fund Turnover Index and Sales Revenue Collection Index

The fund turnover index was 59.9 percent, increasing 3.3 percentage points q-o-q and on par with the previous year. Among the entrepreneurs surveyed, 33.2 percent considered the performance of fund turnover in the current quarter to be “ good ” , 53.5 percent considered it “mediocre”, and 13.3 percent considered it “poor”.

The sales revenue collection index registered 62.2 percent, increasing 2.4 percentage points q-o-q and decreasing 1.2 percentage points y-o-y. Among the entrepreneurs surveyed, 32.8 percent considered the collection of sales revenue to be “ easy ” , 58.8 percent considered it “mediocre”, and 8.4 percent considered it “difficult”.