PBOC Banker Survey Report (Q3 2023)
The results of nationwide banker survey conducted by the People’s Bank of China (PBOC) in Q3
I. Bankers’ Macroeconomic Heat Index (BMHI)
Bankers’ Macroeconomic Heat Index
was 27.8 percent, down 10.0 percentage
points from the previous quarter. Among
the surveyed, 49.9 percent bankers
considered the current macroeconomic
climate "normal", down 12.6 percentage
points from the previous quarter; 47.3
percent considered it "relatively cool", up 16.3 percentage points from the
previous quarter. For the next
quarter, bankers’ macroeconomic heat
expectation index is 35.5 percent, 7.7
percentage points higher than that of the
current quarter.
II. Banking Industry Climate Index andBanking Profitability Index
The Banking Industry Climate Index registered 67.1 percent, down 2.6 percentage points from the previous quarter, and up 0.7 percentage points from the same period last year. The banking profitability index was 60.8 percent, down 1.4 percentage points from the previous quarter, and down 1.5 percentage points from the same period last year.
III. Overall Loan Demand Index
The Overall Loan Demand Index was 57.8 percent, down 4.4 percentage points from the previous quarter, and down 1.2 percentage points from the same period last year. By sectors, the loan demand index of the manufacturing sector stood at 60.3 percent, down 3.8 percentage points from the previous quarter; the loan demand index of infrastructure was 57.8 percent, down 3.2 percentage points from the previous quarter; the loan demand index of wholesale and retail industry posted 57.5 percent, down 2.5 percentage points from the previous quarter; the loan demand index of real estate enterprises was 41.2 percent, down 5.8 percentage points from the previous quarter. By scale, the loan demand index of large-sized enterprises, medium-sized enterprises, and micro and small businesses posted 52.1 percent, 55.2 percent, and 62.9 percent, down 3.0 percentage points, 2.9 percentage points, and 1.6 percentage points from the previous quarter, respectively.
IV. Monetary Policy Sentiment Index (MPSI)
The Monetary Policy Sentiment Index posted 67.8 percent, up 3.7 percentage points from the previous quarter, and down 4.5 percentage points from the same period last year. Among the surveyed, 37.3 percent bankers considered the monetary policy stance "eased", up 7.4 percentage points from the previous quarter; 61.0 percent considered the monetary policy stance "moderate", down 7.5 percentage points from the previous quarter. For the next quarter, the monetary policy sentiment expectation index is 70.0 percent, 2.2 percentage points higher than that of the current quarter.
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