On December 30, 2025,the Financial Research Center of the Fudan Development Institute (FDFRC) released the results of the 147th China Economic Panel (CEP) survey. China's economic sentiment index remained at 0.00, the US economic sentiment index was adjusted from 9.09 to 13.33, and the Eurozone economic sentiment index was adjusted from -13.64 to -6.67. 

According to Professor Lijian Sun , Director of the Financial Research Center of Fudan Development Institute, The downward adjustment in China's economic growth expectation index and the unchanged economic sentiment index are mainly due to structural adjustments in China's economic growth, resulting in short-term weakness during the process of replacing old growth drivers with new ones. The upward adjustment in the US economic sentiment index is mainly attributed to a certain alleviation of intensified trade friction issues, leading to an upward market expectation for the future US economy. The upward adjustment in the Eurozone economic sentiment index is primarily due to two factors: first, the political volatility in Europe has temporarily subsided, reducing economic uncertainty in the region; second, the trade friction issues between the US and Europe have also been alleviated. 

It is predicted that China's inflation rate will be -0.13% in the next three months and 0.23% in the next year. Compared with the September data, both short-term and long-term expectations have been revised upward. Professor Sun pointed out, The upward revision in short-term and long-term expectations of China's CPI sentiment index reflects that recent national anti-involution policies have improved the business environment characterized by vicious competition and monopolies, allowing prices to return to normal levels. The adjustment in prices is also influenced by cyclical factors, particularly the price of agricultural products, whose cyclical characteristics have played a role in this price rebound. Both short-term and long-term expectations for the PPI index have been revised upward, converging negatively, reflecting the government's demand for stable growth. With China's structural reforms and the release of policy dividends from the government's efforts to improve the domestic business environment and enhance market consumption vitality, these changes are also reflected in price levels.

Translated by Yiqian YANG

Full text in Chinese available at:

https://fddi.fudan.edu.cn/af/fd/c40448a765949/page.htm