Beijingers Optimistic about Economic Rebound

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Last updated at: (Beijing Time) Tuesday, July 15, 2003

Beijingers Optimistic about Economic Rebound

Beijing residents believe that the local economy will rebound quickly in the wake of the SARS (severeacute respiratory syndrome) epidemic.

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Beijing residents believe that the local economy will rebound quickly in the wake of the SARS (severeacute respiratory syndrome) epidemic.

A recent survey conducted by the Beijing Municipality Bureau of Statistics indicates that over 70 percent of the 2,000 local residents sampled are confident that consumer demand will surge, bringing with it a bright economic future.

The survey shows that the consumer confidence index reached 103.2 percent in the second quarter of the year, up 0.4 percent from that of the first quarter.

Home and auto purchase forecasts rose quickly in the second quarter, with the home purchase figure up eight percent.

However, consumers expressed decreased satisfaction with incomes, prices and economic development in the second quarter. The percentage of consumers satisfied with their incomes dropped by 5.6 percent in the second quarter.

The survey also indicates a surge in local consumption in the coming months. More than 50 percent of respondents have spent or intend to spend money on purchasing homes and cars, travel, education and medical insurance.

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