Slightly more upbeat but keen on stocks too

By Zhang Fengming | March 13, 2009, Friday |

Print Edition

CHINESE households are slightly more confident in their prospective income but as it's a weak recovery they are also showing a lot of interest in stock investments, according to a central bank survey yesterday.

The index of urban citizen's confidence in prospective income rose 4.5 percentage points from a quarter ago to 17.7 percent for this quarter, said the People's Bank of China yesterday on its Website, citing a nationwide survey of 20,000 households in 50 cities made in the second half of February.

On a year-on-year comparison, the confidence index is 5 percentage points down as 19 percent of respondents said they expect an income cut or are uncertain about the future, indicating a strong sentiment of uncertainty.

The survey also showed that consumers are showing rising interest in share trading as the domestic stock market is clawing back its losses this year. The benchmark Shanghai Composite Index has risen 17 percent so far this year, from a drop of almost 70 percent in 2008.

About 32.9 percent of the respondents said they prefer investments in bonds, stocks and insurance. About 13.8 percent of them said they prefer stock investments, up 5.1 percentage points from a quarter ago. It was also the second straight quarter rise.

Economy

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

Slightly more upbeat but keen on stocks too

Email this to your friend