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Chinese bankcard holders’ confidence dips
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China’s bankcard owners were less confident in November than a month ago as consumer sentiment remained sluggish, a report said yesterday.
The Bankcard Consumer Confidence Index dipped 0.50 percent from October to 86.20 points last month, China UnionPay, the country’s sole bankcard transaction firm, said in a report yesterday.
As November was a seasonal low period for retail sales, domestic consumption eased from that of October, UnionPay said, adding that cuts in spending on non-daily necessities dented the BCCI index.
Card owners’s spending at home appliance vendors shed 0.92 percent from a month ago as energy-saving subsidies expired. Expenditure at restaurants fell 0.28 percent from October’s.
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