Latest News:  
Beijing   Sunny    6 / -4   City Forecast

People's Daily Online>>China Business

China's consumer confidence drops in February

(Xinhua)

15:48, March 09, 2012

BEIJING, March 9 (Xinhua) -- Chinese consumers' confidence dipped in February on waning market demand following the Spring Festival holiday, according to an index released Friday.

The Bankcard Consumer Confidence Index (BCCI), compiled by the Xinhua News Agency and China UnionPay, a national bank card association, stood at 86.69 in February, down 0.09 points from January.

On a year-on-year basis, however, the BCCI index was up 0.65 points, the organizations said in a report.

The decline in the index was largely blamed on the disappearance of holiday-related factors.

The proportion of cardholders' spending on daily necessities, catering services and home appliances dropped by 3.44 percentage points, 0.74 percentage points and 0.46 percentage points from January, respectively.

Meanwhile, banks' easing of mortgage lending criteria for home buyers and recent falls in housing prices released cardholders' demand for homes, which in turn curbed their spending on non-essentials, according to the report.

The Xinhua News Agency and China UnionPay started compiling the BCCI index in April 2009 based on bank card transaction data and analyses of structural changes in urban consumption.

Email|Print|Comments(Editor:王莉莉)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese leaders join panel discussions, Hu stressing stability in Tibet

  2. Wounded Chinese workers in Congo blasts to head home

  3. Marvellous spectacles of extreme weather

  4. Odd-looking animals around world

Most Popular

Opinions

  1. Facing problems forges confidence for development
  2. Defense budget guards peaceful intentions
  3. Will China's economy keep growing or slow down?
  4. Chinese products bring benefits to U.S. consumers
  5. Is international 'hot money' flowing into China?
  6. China's economy to roar ahead amid global woes
  7. U.S. solution to Syria issue doomed to failure
  8. Trust key to stability on Korean Peninsula
  9. Public will increasingly swaying diplomatic policies
  10. Political dialogue is right solution to Syrian crisis

What's happening in China

Students may get sporting chance

  1. Smokers may be singed by tax hikes
  2. Missing geologists in Kekexili still unfound
  3. Xisha Islands tourism to be developed
  4. Tourism resort seeks credibility after scandal
  5. Road rage killer sparks public fury

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai