Consumer confidence on the cards
By Ding Yining |
October 15, 2011, Saturday
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Print Edition
Print Edition
Consumer confidence among Chinese bank card holders climbed in September for a third month, according to an industry index, with strong demand for jewelry and non--daily necessities as a result of the Mid-Autumn Festival and National Day holiday.
China UnionPay's Bankcard Consumer Confidence Index was up 0.13 point from August to 86.34 and was 0.02 higher than a year ago.
UnionPay, China's sole bank card transaction firm, yesterday said spending on gold products boomed on the back of sales promotions during the Mid-Autumn Festival and gift purchases ahead of the National Day holiday when many people married.
Domestic card holders' spending at jewelers grew 8 percent in September, compared with the previous month, and consisted of 3.4 percent of total spending last month.
UnionPay said the index will continue its upward trend. The company said the level of spending on non-necessities reflects the level of optimism about the future.
China UnionPay's Bankcard Consumer Confidence Index was up 0.13 point from August to 86.34 and was 0.02 higher than a year ago.
UnionPay, China's sole bank card transaction firm, yesterday said spending on gold products boomed on the back of sales promotions during the Mid-Autumn Festival and gift purchases ahead of the National Day holiday when many people married.
Domestic card holders' spending at jewelers grew 8 percent in September, compared with the previous month, and consisted of 3.4 percent of total spending last month.
UnionPay said the index will continue its upward trend. The company said the level of spending on non-necessities reflects the level of optimism about the future.
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