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Confidence falls among bankcard owners
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China’s bankcard owners’ confidence fell from a year earlier in March amid an economic slowdown, a private report showed.
The Bankcard Consumer Confidence Index fell 2.28 from last year to 84.92 in March, China UnionPay, the country’s sole bankcard transaction company, said in a report today.
China’s March trade data was weaker than expected with exports falling 6.6 percent and imports falling 11.3 percent.
The monthly confidence reading edged up 0.35 from February as business activities picked up after the Spring Festival.
The month-on-month improvement was mainly due to rising purchases of home appliances and automobiles and people taking more trips in March.
Confidence is expected to rise in the next few months as the government plans to boost infrastructure investment to help the economy.
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