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Confidence up on strong spending
By Ding Yining |
February 10, 2012, Friday
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Print Edition
Print Edition
CONFIDENCE among Chinese bankcard holders rose in January because they spent strongly during the 10 public holidays that month, an industry survey showed.
The Bankcard Consumer Confidence Index rose 1.25 year on year and 0.06 on a monthly basis to 86.78 last month, said a report released yesterday by China UnionPay.
Consumers spent strongly, up 32 percent from the same period a year ago, during the 10 public holidays in January, which comprised three days for the New Year and the week-long Lunar New Year holiday from January 22 to 28.
Bankcard transactions rose to 102.9 billion yuan (US$16.3 billion) in the week-long Lunar New Year holiday, it said earlier.
The Bankcard Consumer Confidence Index rose 1.25 year on year and 0.06 on a monthly basis to 86.78 last month, said a report released yesterday by China UnionPay.
Consumers spent strongly, up 32 percent from the same period a year ago, during the 10 public holidays in January, which comprised three days for the New Year and the week-long Lunar New Year holiday from January 22 to 28.
Bankcard transactions rose to 102.9 billion yuan (US$16.3 billion) in the week-long Lunar New Year holiday, it said earlier.
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