According to a survey, consumption patterns of Chinese urban residents has changed significantly with more people buying houses or cars.

In the past, urban residents would spend most of their money on color televisions, refrigerators and other luxury goods or purchase treasury bonds or deposit money in the bank to accumulate bank interest.

A survey conducted in December 1999 revealed that urban residents now spend most of their money on buying houses, decorating their homes, educating their children, traveling, studying overseas, starting up a company or buying shares.

The survey was conducted by the Beijing-based China Mainland Marketing Research Company and 13 other information and consulting agencies in Beijing, Dalian, Changchun, Harbin, Shanghai, Nanjing,Suzhou, Jinan, Zhengzhou, Wuhan, Guangzhou, Chengdu, Xi'an and Lanzhou. Some 6,400 people took part in the survey.

Thirty two percent said they would spend in the "traditional way", while 64.4 percent said they would use their money on new luxury items.

Some 19.9 percent plan to purchase houses or cars.