Consumer Confidence Index Hit A New High In 2007 Since May 7Th
The National Bureau of statistics, China Economic Prosperity Monitoring Center and Nielsen Co jointly issued the 2010 survey of consumer confidence in the first quarter of 2010. The latest survey shows that China's consumer confidence has continued to rise, and the consumer confidence index has increased 4 percentage points from the previous quarter, reaching its highest level since 2007.
In the first quarter of 2010, China's consumer confidence survey showed that China's consumer confidence continued to grow in the current quarter and has rebounded to the level before the international financial crisis. The joint survey launched by the China economic monitoring center and Nielsen of the National Bureau of statistics has the largest scale in similar studies, covering 3500 consumers in cities, townships and rural areas at all levels in China. The survey shows that China's consumer confidence index has increased by 19 percentage points in the past 12 months, and the current survey has reached 108. The sharp rise in confidence index this season is mainly due to a significant increase in consumer prospects for employment and personal income expectations, especially in the central and rural areas.
Consumer confidence in central and rural areas is the most obvious.
According to the regional perspective, consumers in Central China showed higher optimism for the month of 2010 than other regions, and their confidence index reached 111, 11 points higher than the fourth quarter of 2009. The eastern region's consumer confidence index also reached 111, an increase of 3 points. The index of consumer confidence in the northeast and western regions remained stable, 104 and 101, respectively. In the three major economic circles of the Yangtze River Delta, the Pearl River Delta region and the Beijing Tianjin Hebei region, the consumer confidence index of Beijing Tianjin Hebei region increased by 7 points to 114, exceeding the Yangtze River Delta as the three largest economic circle with the strongest consumer confidence. The Pearl River Delta consumer confidence index increased 6 points to 111 points, close to the 112 points of the Yangtze River Delta.
From the perspective of urban and rural areas, the difference of consumer confidence at all levels is narrowed and the index value tends to be consistent. Consumer confidence in rural areas has significantly improved, and the rate of improvement is significantly higher than that in cities. Among them, consumer confidence in the second tier and three tier cities maintained an upward trend with an index of 105 and 105, an increase of 4 points and 2 points respectively over the four quarter. Consumer confidence in the first tier and four tier cities was roughly the same as that in the previous quarter, and remained relatively high (the index values were 106 and 107 respectively). The consumer index in rural areas rose strongly, reaching a peak of 111, an increase of 8 points.
With the economic recovery and the construction of government livelihood projects, the economic situation of low-income families tends to improve. The survey showed that the low level of consumer confidence index in the first quarter was 102, reaching a relatively satisfactory level, 12 points higher than the fourth quarter of 2009, significantly faster than the high and middle income level consumers.
The employment situation is improving and the personal economic situation has been improved.
Consumer satisfaction with local employment prospects has improved. 71% of consumers believe that the employment situation in the next 12 months will be "good" or "very good", up 9 percentage points from the previous quarter. Among them, the central region consumer confidence in the promotion is particularly obvious, nearly 80% of consumers optimistic about their future employment situation, to increase 17 percentage points.
Consumers are optimistic about their personal economic situation. 67% consumers indicated that their personal financial status in the next 12 months would be "good" or "very good". Among them, consumers in the eastern and central regions have the largest share of optimism, while consumers in the western region expect the biggest improvement. Consumers in rural areas expected to improve their personal economic status significantly more than urban consumers.
The main concerns of Chinese consumers: income and health
Chinese consumers are most concerned about the same issue as the previous round of consumer confidence surveys, and income problems remain the top priority, followed by health and children's education. In addition, consumers' concern for medical insurance and housing prices rose significantly, and their proportion increased from ninth and eighth in the fourth quarter of 2009 to fifth and sixth respectively.
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