Chinas corporate performance on decline: Report

Chinas Business Climate Index declined to 133.8 in the first quarter,signalling increasing concerns over stringent monetary tightening policy and periodic rises of interest rates aimed at taming inflation and curb asset bubbles.

The index,a main gauge of corporate performance,declined to 133.8 in the first quarter of this year from a three-year high of 138 in the last quarter of 2010,Chinas National Bureau of Statistics said.

The retreat signals increasing concerns about the countrys monetary tightening policy and interest rate rises,it said. Chinas central bank raised key rate on Tuesday,the fourth increase in interest rates in less than six months,to tame inflation.