China's manufacturing industry business confidence index in March exceeded 50, a milestone for determining economic conditions, for the first time in six months. This was mainly due to an increase in production due to growth in exports.
Expectations for measures to encourage people to replace household appliances and automobiles, which the Chinese government has launched in order to expand domestic demand, also led to an improvement in business confidence. In China, the economic outlook is becoming increasingly uncertain due to the prolonged slump in the real estate market. It will be interesting to see whether the improvement in corporate business confidence continues.