China consumers remain upbeat about job, finance prospects

By Ding Yining | February 12, 2015, Thursday |

Online Edition

CHINESE consumers' confidence remained unchanged from a year ago at 110 points in 2014, bolstered by optimism on job prospects and personal finances, a latest survey shows.

China's consumer confidence index is higher than the global level of 96, and ranked the sixth place along with Hong Kong among the 60 countries and regions measured in Nielsen’s global Consumer Confidence Index tracking, Nielsen said in a study released today.

"Chinese consumers remain more optimistic about job prospects, personal finances and their desire to spend in the coming year compared to their global peers in most of the markets," said Yan Xuan, President of Nielsen China. An index above 100 points suggests optimism and otherwise pessimism.

Nielsen survey also shows that consumers' confidence in higher tier cities had a healthy boost, with job prospect expectations rising 3 points to 65 percent and personal finance outlook adding 3 points to 77 percent.

As much as 66 percent of Tier 1 consumers increased their household spending in 2014 compared with a year ago while 28 percent kept the same level of expenditure with 2013.

Despite a small dip in the consumer confidence index in the fourth quarter, Nielsen pointed out positive signs to further drive consumption such as stronger awareness for healthcare and wellness and higher spending intention for items aimed at improving living quality.

Nielsen's study covers 3,500 respondents in China and nearly 30,000 from online polling worldwide.

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China consumers remain upbeat about job, finance prospects

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