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Consumer confidence grows in China
By Ding Yining |
November 9, 2012, Friday
|
Online Edition
Online Edition
CONFIDENCE among Chinese bankcard holders grew for the first time in three months in October with strong spending in the holiday season and lower inflation level.
The Bankcard Consumer Confidence Index was up 0.66 in October from that of September to 86.46, according a report released today by China UnionPay, the country's sole bankcard transaction firm.
The index of agricultural wholesale price tracked by the Ministry of Agriculture fell to 182.5 from 192.5 in September, pushing up other non-daily necessity spending.
The eight-day National Day holiday at the start of October also pushed up spending at hotels and tourist attractions.
Spending at hotels and jewelry shops grew 0.41 percent and 1 percent from the previous month, respectively.
Stabilizing domestic economic conditions and previous easing policies boosted the confidence of card owners, UnionPay pointed out. It expects the index to stay stable with the global economy recovering.
The Bankcard Consumer Confidence Index was up 0.66 in October from that of September to 86.46, according a report released today by China UnionPay, the country's sole bankcard transaction firm.
The index of agricultural wholesale price tracked by the Ministry of Agriculture fell to 182.5 from 192.5 in September, pushing up other non-daily necessity spending.
The eight-day National Day holiday at the start of October also pushed up spending at hotels and tourist attractions.
Spending at hotels and jewelry shops grew 0.41 percent and 1 percent from the previous month, respectively.
Stabilizing domestic economic conditions and previous easing policies boosted the confidence of card owners, UnionPay pointed out. It expects the index to stay stable with the global economy recovering.
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