Confidence of bankcard owners up
Print Edition
THE confidence of China’s bankcard owners rose last month as consumer sentiment was relatively strong ahead of the Labor Day holiday.
The Bankcard Consumer Confidence Index added 0.5 from a month ago to 85.42 points as consumers dined more, China UnionPay, the country’s sole bankcard transaction firm, said in a report yesterday.
The value of consumers’ spending at household appliance retailers climbed 0.25 percent from a month ago due to sales promotions ahead of the Labor Day holiday.
The proportion of accommodation spending out of the total amount of bankcard holders’ expenditure last month also gained 0.42 percent as short trips picked up. But expenditure on daily necessities dipped 0.5 percent from a month earlier.
Consumer sentiment is set to be stable with an economic rebound following income tax incentives for small and micro firms and quicker railway construction, UnionPay said.
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