BEIJING - An industrial survey has indicated growing confidence among Chinese retailers about business prospects as the country stepped up policy measures to spur growth. The China Retail Performance Index, a barometer of retailers’ expectations for the sector, stood at 50.3pc in August, edging up 0.2 percentage points from July and staying in expansion zone for eight consecutive months, according to China General Chamber of Commerce. A reading above 50 indicates expansion, while a reading below 50 reflects contraction.

The upward trend of the index since the start of this year serves as evidence proving the resilience of the Chinese economy, the chamber said.