Chinese businessmen have told pollsters the deteriorating situation in the economy - the media

Almaty. December 18. Silkroadnews - Interview with representatives of Chinese companies in various fields of economy China Beige Book (CBB) pointed to the widespread deterioration in economic conditions, and it contradicts to the official statistical datas for stabilization in the economy, published "Vedomosti" with reference to Bloomberg.
According to a survey of New York CBB International, it turned out that the figures for sales of Chinese companies, sales and production, prices, income and the level of employment, debt and capital expenditure in the IV quarter of 2015 was weaker than in the previous quarter . The official data on industrial production, retail sales and investment in fixed assets of the companies in November exceeded the forecasts of experts, the inflation rate has increased, and the weakening of exports slowed.
Data on income of Chinese companies have "particular concern" because the percentage of companies reporting an increase in profits, fell to a record low, said the president of CBB International Leland Miller. Retail and real estate showed a fairly good momentum, but in the manufacturing sector and the service sector of China the situation is unfavorable, as indicators of revenue, profits, employment and investment declined.
The survey shows "overall weakness," said L.Miller.
PBOC six times reduced its key interest rate in November 2014, and also softened the reserve requirements of banks. However, the survey data indicated a reduction in the volume of borrowing by companies that, according to experts, calls into question the effectiveness of monetary policy by the NBK.
CBB, which released its first quarterly survey in 2012, using the same methodology as published in the US Beige Book. China Beige Book is based on the results of the survey of more than 2 100 companies from different sectors and different cities of China.