China Bankcard Consumer Confidence Index up 2.67 in April on economic optimism

08:05, May 10, 2010      

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Chinese bankcard holders' were increasingly willing to spend in April as optimism about the Chinese economy grew, the latest consumer confidence figures showed Sunday.

The Bankcard Consumer Confidence Index (BCCI) stood at 86.80 in April, up 2.67 year on year but slightly lower than the record high of 86.89 in March.

The Chinese economy recovered with increased demand, industrial output, employment and imports in April.

Moreover, measures to cool China's overheated property market also boosted consumer confidence, the report said.

Many bankcard holders were willing to spend on discretionary items during the many sales campaigns ahead of the Labor Day holidays from May 1 to 3, the report said.

The BCCI index is compiled by Xinhua News Agency and China UnionPay, a national bankcard association.

They jointly started compiling the index in April 2009 based on bankcard transaction data and analysis of structural changes in urban consumption.

Source: Xinhua


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