Chinese Consumer Sentiment Continues to SurgeChinese consumer confidence in April rose to the highest level in the last two years, said the National Bureau of Statistics (NBS).Bureau statistics show that the consumer contentment index rose to 96 points, one point higher than that in March, which contributed to the surge of the confidence index to 97.5 points. The rise demonstrated that Chinese consumers are contented with the current economic conditions and that they are willing to buy more, according to the report. In April, when the week-long vacation of May 1 was around the corner, stores gave discounts and consumers seized it a good season to purchase durable goods. Meanwhile, government officials and retirees saw a rise in their wage and pension in that month, which added to their purchasing power. However, the bureau report said that the consumer expectations index remained the same as in March. Survey shows that Chinese are optimistic about the country's economic performance in the coming year but they hold back on the possibility of increasing income. The uncertainties in the international economic development also have negative impact on their expectations. The report said that the surge of consumer confidence will stimulate the domestic demand and drive up the country's economic growth. |
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