Chinese consumer optimism solid in Q1
Source: Xinhua |
May 18, 2012, Friday
|
Print Edition
Print Edition
CHINA'S consumer confidence in the first quarter was the strongest since 2005, according to a report by the international market research firm Nielson yesterday.
Nielson's consumer confidence index in China hit 110 in the first quarter, up from 108 in the previous quarter and the highest since 2005, said a company's statement.
China's index also ranked the fourth highest among the 56 countries and regions surveyed by Nielson while India topped the list, the statement said.
Amid a complex global economic situation, major indices of the Chinese economy have remained at a reasonable level and the government has worked to assist small and medium-sized firms with bank loans, stimulate domestic consumption and cool the overheated real estate sector, which helped lift consumer confidence, said Yan Xuan, president of Nielson China, at a press conference.
The consumer confidence index in the country's rural areas rose too, and was again higher than that in cities, the statement said.
Yan attributed that to government policies, including more subsidies in rural pension programs and more money in the budget for rural areas.
The country's consumer price index growth eased to 3.8 percent in the first quarter of 2012, against the annual hike of 5.4 percent in 2011.
However, how Chinese will spend their money remains unchanged. About 59 percent of the surveyed will bank their spare money and 49 percent are willing to spend it on the education of their children.
A reading above 100 means consumer optimism.
Nielson's consumer confidence index in China hit 110 in the first quarter, up from 108 in the previous quarter and the highest since 2005, said a company's statement.
China's index also ranked the fourth highest among the 56 countries and regions surveyed by Nielson while India topped the list, the statement said.
Amid a complex global economic situation, major indices of the Chinese economy have remained at a reasonable level and the government has worked to assist small and medium-sized firms with bank loans, stimulate domestic consumption and cool the overheated real estate sector, which helped lift consumer confidence, said Yan Xuan, president of Nielson China, at a press conference.
The consumer confidence index in the country's rural areas rose too, and was again higher than that in cities, the statement said.
Yan attributed that to government policies, including more subsidies in rural pension programs and more money in the budget for rural areas.
The country's consumer price index growth eased to 3.8 percent in the first quarter of 2012, against the annual hike of 5.4 percent in 2011.
However, how Chinese will spend their money remains unchanged. About 59 percent of the surveyed will bank their spare money and 49 percent are willing to spend it on the education of their children.
A reading above 100 means consumer optimism.
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