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Confidence among bankcard owners dips
By Ding Yining |
March 11, 2013, Monday
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Online Edition
Online Edition
CONFIDENCE among China's bankcard owners dropped 0.49 points last month due to higher prices for food and daily necessities.
The Bankcard Consumer Confidence Index was 86.20 in February, down 0.90 points from a year ago, according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
The amount of spending at supermarkets in February increased 1.1 percent from January, pushed up by strong demand and higher prices. Expenditures related to home appliances and automobiles remained flat during the week-long Chinese New Year holiday.
Business-related travel spending was also sluggish during the holiday and billings at hotels declined 0.34 percent from a month ago.
UnionPay said ongoing incentives to boost domestic spending are expected to lift consumer confidence in the long run.
The Bankcard Consumer Confidence Index was 86.20 in February, down 0.90 points from a year ago, according to a report released today by China UnionPay, the country's sole bankcard transaction firm.
The amount of spending at supermarkets in February increased 1.1 percent from January, pushed up by strong demand and higher prices. Expenditures related to home appliances and automobiles remained flat during the week-long Chinese New Year holiday.
Business-related travel spending was also sluggish during the holiday and billings at hotels declined 0.34 percent from a month ago.
UnionPay said ongoing incentives to boost domestic spending are expected to lift consumer confidence in the long run.
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