Survey: 50% families to cut expenses under greater pressure

16:59, November 15, 2010      

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More than 50 percent of families in seven cities, including Beijing and Shanghai, will adopt consumption compression plans in the coming year, and half of the interviewees said they are suffering greater stress in daily lives, according to a recent survey from China's Horizon Research Consultancy Group.

This was mainly because there was no substantial improvement in income levels under the increasing consumer price index (CPI), which lead to more vulnerable of price volatility tolerance and weak consumer confidence, the survey said.

Data from the survey showed that half of the interviewees both in cities and rural areas said they are under greater stress in their daily lives, of which the pressures experienced by urban residents were mainly from housing (47 percent) and basic living costs (45.3 percent), while in rural areas, the pressures mainly came from basic living costs (54.8 percent) and the educational burden for offspring (34.9 percent).

According to the survey, there were nearly 58.8 percent and 64 percent of interviewees in urban and rural areas, respectively, said they could not cope with the current price fluctuation. In the group that can handle this situation, the majority was just barely able to cope with it, while only no more than 2 percent interviewees said they were fully capable of handle this situation.

The survey also showed that in cities and towns, about 48.3 percent and 46 percent of households planned to compress consumption in 2011, respectively. While in rural areas, this proportion increased as high as 62.8 percent, at the current stage.

The Horizon Research Consultancy Group conducted this survey on price volatility tolerance, consumer confidence and life stress of urban and rural residents in the context of the constantly rising CPI and price issues in China society.

The survey was conducted in mid-October of this year in seven cities, including Beijing, Shanghai, Guangzhou, Wuhan, Chengdu, Shenyang and Xi'an and seven small towns and affiliated rural areas in Shaoxing of eastern China's Zhejiang Province and Fuzhou of southern China's Fujian Province.

By Li Mu, People's Daily Online


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