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China bankcard owners鈥 confidence in Sept rises to highest this year
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CHINA'S bankcard owners' sentiment rose in September to the highest level this year, boosted by strong consumer expenditure ahead of the seven-day National Day’s holiday.
The Bankcard Consumer Confidence Index went up 2.03 from a month ago to 85.79 in September, after falling to a record low level in nearly two years in August, China UnionPay, the country's sole bankcard transaction firm, said in a report today.
Expenditure volume at supermarkets merely edged up 2 percent, compared with a 20 percent monthly growth in the same period last year. September is usually the peak season for spending on food and other daily necessity items. UnionPay pointed out that this year, however, consumers are becoming more rational about spending on moon cakes and other festive pastry or gifts.
Travel related spending was boosted by both the Mid-Autumn festival and the weeklong National Day’s holiday. Travel agencies’ sales volume surged 20.54 percent from that in August as the autumn is traditionally a peak season for traveling. Transaction volume at airline ticket agents and websites also picked up 3.24 percent from a month ago.
Expenditure size at home appliances retailers rose 14.2 percent from a month ago, lifted by various forms of sales campaigns to woo consumers.
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