China's consumer confidence at record high in Q1

13:30, May 07, 2010      

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China's Consumer Confidence Index rose four points to 108 in the first quarter, the highest since 2007, but consumers' willingness to consume fell slightly, according to a report released on Thursday by the National Bureau of Statistics (NBS).

The NBS' report was conducted together with market researcher Nielsen, and shows China's Consumer Confidence Index rising 19 points during the past 12 months, according to Friday's China Daily.

Consumer confidence hinges on local job prospects, personal finance and willingness to spend, according to experts at the China Economic Monitoring & Analysis Center affiliated to the NBS and Nielsen.

"This significant jump is largely driven by increasing confidence of consumers in central and rural areas, as well as big improvements in consumers' perception of local job markets and personal finances," said Mitch Barns, president of Nielsen Company (Greater China), as saying.

Covering more than 3,500 shoppers from cities, towns and villages, researchers reported a marked lift in optimism in central China provinces, and a narrowing gap between different levels of the cities, and between cities and rural areas in confidence indices.



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