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Chinese show more interest in investment in May
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CHINESE households have become more enthusiastic about investment, especially in stock market, whose surprisingly good performance helped to bolster people's confidence for the future, a survey showed today.
The China Wealth Index, compiled every other month by Bank of Communications and Nielsen to gauge sentiment among Chinese households, settled at 133 in May, up from 128 in March and 132 in January.
A reading above 100 reflects optimism, and the latest reading was the highest in two years.
The component indices showed that households' confidence in the economy rose 4 points to 119, and the index measuring their income rise added 3 points to 153. The fastest growth went to people's willingness of investing, which gained 7 points to 120.
"The dazzling performance of the stock market in the past two months has made people enthusiastic about investment," said Lian Ping, chief economist at Bank of Communications. "We have seen households are more confident of the future, and are ready to invest more in either stock market or fund market."
The survey found 75 percent of households have bought stock shares, up from 67 percent two months ago. It echoed the earlier media reports that 5 million people opened their account in April and became new retail stock investors.
Meanwhile, people's willingness in purchasing fixed-asset investment, referring to properties, also recovered. The related index rose for the first time in six months to 100, up from 94 in March and returning to the demarcation line indicating positive sentiment.
"Making good money from the stock market, people again think about buying properties," Lian said. "There have been signs of a recovering market after the authorities relaxed the curbs on the housing market in March."
People's expectation of buying homes jumped to 110 in May, up 9 points from that in March, the survey showed.
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