Optimism spurs Chinese to spend
Source: Xinhua |
May 10, 2010, Monday
|
Print Edition
Print Edition
CHINESE bankcard holders were increasingly willing to spend in April as optimism about the Chinese economy grew, the latest consumer confidence data showed yesterday.
The Bankcard Consumer Confidence Index was at 86.80 in April, up an annual 2.67 percent but slightly lower than the record 86.89 in March.
The Chinese economy recovered as demand, industrial output, employment and imports all rose in April. Also, measures to cool China's overheated property market also boosted consumer confidence, the report said.
Bankcard holders were willing to spend on discretionary items ahead of the May Day holiday from May 1 to 3, the report said.
The BCCI index is compiled by Xinhua and China UnionPay, a national bankcard association.
They jointly started compiling the index in April 2009 based on bankcard transaction data and analysis of changes in urban consumption.
The Bankcard Consumer Confidence Index was at 86.80 in April, up an annual 2.67 percent but slightly lower than the record 86.89 in March.
The Chinese economy recovered as demand, industrial output, employment and imports all rose in April. Also, measures to cool China's overheated property market also boosted consumer confidence, the report said.
Bankcard holders were willing to spend on discretionary items ahead of the May Day holiday from May 1 to 3, the report said.
The BCCI index is compiled by Xinhua and China UnionPay, a national bankcard association.
They jointly started compiling the index in April 2009 based on bankcard transaction data and analysis of changes in urban consumption.
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