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China's Successful Olympic Bid Boosts Consumer Confidence
The consumer confidence index, describing consumer's degree of satisfaction with the economy and expectancy of the economic trend, surged to 98.1 points in July, 0.7 points up from June this year, a State Statistical Bureau (SSB) report said Thursday.
According to the report on consumer confidence, the consumer satisfaction index and expectancy index both maintained bullish momentum, soaring to 97.2 points and 98.7 points respectively, the report said.
The SSB attributed these increases to Beijing's successful bid for the 2008 Olympic Games.
The report said that 96 percent of respondents said they are " delighted" with the bid success, claiming that it will promote Chinese people's sense of national pride, and will be conducive to economic development.
In hosting the 2008 Olympic Games, China will see dramatic increases in employment opportunities and income levels. Its international position will be further enhanced and exchange and cooperation with other nations will be expanded, the interviewees said.
In Beijing, 90 percents of interviewees said that the Olympic Games would fuel the city's economic development, urban construction and the living standard of the city dwellers.
The SSB said the effective measures in regulating the market economic order by the government, as well as retailers' summer sales also advanced consumer satisfaction.
However, the SSB stressed that with the passing of time, the stimulus of the bid success will fade away and the consumer confidence will ultimately depend on the growth of the overall national economy, the increase in people's incomes and the improvement of market order.
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