Survey: Chinese consumer confidence reaches its highest level in 3 years, consumption willingness drops slightly

by:Ennas      2021-11-17

The latest survey shows that Chinese consumer confidence continues to rise, with a consumer confidence index of 108, an increase of 4 percentage points from the previous quarter, reaching the highest level since 2007.   At the same time, although consumers are gradually optimistic about the future economic conditions, their willingness to consume has declined slightly. 43% of Chinese consumers believe that now is a good opportunity for consumption, a drop of 3 percentage points.   At the China Consumption Growth Forum held here on the 6th, the China Economic Prosperity Monitoring Center of the National Bureau of Statistics and the Nielsen Company jointly released the 'China Consumer Confidence Survey Report for the First Quarter of 2010.' According to the report, in the first quarter, consumer confidence in China has shown a trend of continuous improvement and has returned to the level before the international financial crisis.   Pan Jiancheng, China Economic Surge Monitoring Center of the National Bureau of Statistics, believes that the sharp rise in the confidence index this season is mainly due to the substantial increase in consumer expectations for employment prospects and personal income, especially in the central and rural areas. He pointed out that this is inevitable with the recovery of the economy, and is also related to the government's increase in the construction of people's livelihood projects while responding to the financial crisis.   The main part of the decline in consumer willingness in the first quarter was the group of high-income families. Experts believe that this may have something to do with the rapid rise in housing prices this quarter. Tang Min, secretary general of the China Development Research Foundation, believes that in order to prevent the emergence of a real estate bubble, a series of policies in various cities in the recent period, especially after the 'May 1st' period, will curb some consumption in the short term, but this is a necessary price. Don't worry too much. Mitch Barns, President of Nielsen Greater China, said that large-scale events such as the 2010 China Shanghai World Expo and the Guangzhou Asian Games will bring China to the world stage again, and Chinese consumers will undoubtedly continue to benefit from such global events. The confidence gained, employment boom, and personal economic situation improved. But he also reminded that attention should be paid to the rise in commodity prices and asset prices, such as housing prices. Source: China News Network
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