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Consumer confidence rises in Shanghai

By Wang Yanlin   (Shanghai Daily)

08:32, January 08, 2013

CONSUMER confidence in Shanghai rose in 2012 from a year earlier on a recovering economy and better products provided in the city, a survey showed yesterday.

The Index of Consumer Sentiment rose to 70.12 last year from 68.89 in 2011, indicating more consumer confidence and better consuming experiences among local residents, according to Shanghai University of Finance and Economics.

A reading above 50 means optimism. Nearly 1,000 people were interviewed.

The quarterly survey started in 2007 when China's economy was red-hot. The index reached its record of 70.89 that year and then plunged to the lowest level of 65.85 in 2009 amid the global financial crisis.

The survey said female consumers in Shanghai showed stronger confidence (70.78) than male respondents (69.16).

Consumers aged between 20 and 29 were the most satisfied with their consuming experiences (72.84), and those between 60 and 70 were the least satisfied (68.65).

Xu Guoxiang, program leader and director of the university's Applied Statistics Research Center, saw a positive sign for future consumption in Shanghai.

"As the country aims to double people's income by 2020 from the level in 2010, we expect there is a big room for Shanghai consumers to get better products and services," Xu said.

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