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Most income spent on basic necessities
By Zhang Xuanchen |
February 10, 2011, Thursday
|
Print Edition
Print Edition
MORE than 77 percent of Chinese residents surveyed said most of their income went to food, housing and clothing last year, with only a small amount left for travel and health care.
The survey, released by Beijing-based Xiao Kang Magazine yesterday, revealed most of nearly 1,000 respondents had spent more money on basics than other services last year, in the face of rising food and housing prices.
Residents were polled in 15 cities, including Shanghai and Beijing.
The respondents' expenditures on travel accounted for less than 19 percent of the total on average last year, with only about 8 percent on health care.
This consumer expenditure pattern was partly driven by soaring living costs, as nearly 95 percent of those surveyed said prices were high or too high.
Nearly 30 percent of respondents said consumer prices are "extremely high," the survey showed.
Rocketing home prices put more pressure on residents to make ends meet. About 96 percent of people in the survey said house prices are "too high."
Surging prices have impacted on expenditure plans for this year among those surveyed. More money will go toward saving and investment rather than spending.
Only 16 percent said they will spend more this year, with more than half of them saying they will opt for more investment.
Nearly 34 percent of those surveyed said they will deposit more money in banks.
The survey, released by Beijing-based Xiao Kang Magazine yesterday, revealed most of nearly 1,000 respondents had spent more money on basics than other services last year, in the face of rising food and housing prices.
Residents were polled in 15 cities, including Shanghai and Beijing.
The respondents' expenditures on travel accounted for less than 19 percent of the total on average last year, with only about 8 percent on health care.
This consumer expenditure pattern was partly driven by soaring living costs, as nearly 95 percent of those surveyed said prices were high or too high.
Nearly 30 percent of respondents said consumer prices are "extremely high," the survey showed.
Rocketing home prices put more pressure on residents to make ends meet. About 96 percent of people in the survey said house prices are "too high."
Surging prices have impacted on expenditure plans for this year among those surveyed. More money will go toward saving and investment rather than spending.
Only 16 percent said they will spend more this year, with more than half of them saying they will opt for more investment.
Nearly 34 percent of those surveyed said they will deposit more money in banks.
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