Chinese consumers continued to show more willingness to spend as well as optimism about personal income growth and employment opportunities thanks to a stabilizing economy, according to a survey.
China's Consumer Confidence Index (CCI) reached 112 points in the second quarter of 2017, up two points from last quarter and the highest score since Q4 2013, according to the latest survey from global market research firm Nielsen.
Nielsen's CCI measures perceptions about local job prospects, personal finance and immediate spending intentions. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.
Nielsen's CCI in Q2 exemplifies the steady growth of China's economy, which expanded 6.9 percent in Q2 of 2017, the same as in Q1.
China's development strategies, including coordinated development of the Beijing-Tianjin-Hebei region, and the Belt and Road Initiative, help the Chinese economy expand steadily, and the country's upgraded consumption is accelerating as more Chinese are willing to spend, said Vishal Bali, Managing Director of Nielsen China.
The Nielsen report showed that personal finance grew to 69 from 66 while perceptions about local job prospects increased to 68 from 66. Moreover, immediate spending intentions reached 56, up from the previous level of 55.