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China bankcard owners’ confidence recovers from 3-year low
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CHINA bankcard owners' sentiment rebounded from the lowest level in three years in January, bolstered by strong expenditure ahead of the Chinese New Year holiday, a latest study shows.
The Bankcard Consumer Confidence Index added 1.82 from that in December to 84.38 points, China UnionPay, the country's sole bankcard transaction firm, said in a report.
Consumers' spending at restaurants, liquor and cigarette vendors and entertainment venues all climbed due to favorable consumer sentiment ahead of the Lunar Year holiday.
Expenditure volume of home appliance purchases added 4.67 percent from a month ago.
A relatively warm January also boosted travel related expenditure as ticket sales at tourist attractions surged nearly 50 percent from a month ago.
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