Measure of confidence rises
By Wang Yanlin |
October 13, 2010, Wednesday
|
Print Edition
Print Edition
SHANGHAI consumer confidence in the city's economy climbed in the third quarter of this year over the previous three months as people expressed optimism that stimulus policies would continue and for a successful transformation of the city's economic structure, a survey showed yesterday.
The Shanghai Consumer Confidence Index rose to 106.7 points between July and September, up 1.5 points from a quarter earlier but still 2.7 points lower than a year ago, according to the quarterly survey by the Shanghai University of Finance and Economics.
An index reading above 100 points signals consumers are positive about the economy while one below that implies the opposite.
"Shanghai's economic performance in recent quarters has served as a shot in the arm," said Xu Guoxiang, the research program leader and director of the university's Applied Statistics Research Center. "As China sticks to a relatively easy policy stance, it also helps to strengthen people's confidence in a stable economic expansion."
But Xu cautioned that rising pressure over a yuan appreciation and uncertainties in export outlook and inflation still threaten to dampen consumer confidence in the short run.
Shanghai's gross domestic product expanded 12.7 percent from a year earlier in the first half, after surging 15 percent in the first three months.
To improve the economic structure and reduce dependence on exports of low valued-added products, Shanghai will inject 100 billion yuan (US$14.9 billion) into key innovative industries over the next three years, Mayor Han Zheng said last week. Bio-pharmaceuticals, new energy, new materials, information technology and high-end manufacturing are among the strategic sectors Shanghai is eying as it shifts to an innovation-driven economy.
Despite the overall confidence, the percentage of respondents who said it was a good time to buy homes in the next six months fell to 15.8 percent from 18.3 percent in the previous survey while 71.3 percent deemed it unwise to do so.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
