Chinese consumers more confident

CONSUMER confidence in China rose in the fourth quarter last year from three months earlier as respondents indicated stable spending intentions for the next six months, according to a latest research report.

The Consumer Confidence and Spending Intentions gained 2 points to 108 in the fourth quarter in 2012, market research firm Nielsen said in a statement yesterday.

The survey of 3,500 respondents in China revealed the confidence of consumers in second-tier cities rose 9 points to 104 while that of first-tier cities consumers fell 8 percent, driven by a decline in personal finances and a poorer employment outlook for the next six months.

"The rise of consumer confidence at the year end suggests an optimistic outlook for 2013 and China's economy is expected to grow steadily thanks to positive impact of government economic policy," said Yan Xuan, president of Nielsen China, including Hong Kong, Macau and Taiwan.

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