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Last updated at: (Beijing Time) Friday, July 05, 2002

China's Consumer Confidence Rebounds

China's Consumer Confidence Index rose to 97.3 points in June, 0.2 points higher than May, accordingto a monthly report released by the National Bureau of Statistics (NBS) on Friday.


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China's Consumer Confidence Index rose to 97.3 points in June, 0.2 points higher than May, accordingto a monthly report released by the National Bureau of Statistics (NBS) on Friday.

The NBS report said both the Consumer Sentiment Index and the Consumer Expectation Index showed a rebound, rising from 96.9 and 97.3 in May to 97.2 and 97.4 in June respectively.

The Consumer Confidence Index, based on a monthly survey of 4,200 Chinese consumers in six major cities around the country (with700 consumers selected for each of these cities), compares resultswith its base year, 1997, when it stood at 100. The index is a gauge to tell Chinese consumers' evaluation of the current state of the economy and their longing of future incomes and economic health.

The NBA attributes the Consumer Confidence Index rebound to therevitalized Chinese stock market, noting that it has broken away from year-long doldrums. Seventy percent of consumers said they were satisfied with the rally in the securities market.

Emerging signs of world economic recovery also beefed up consumer confidence in China's economic prospects.

The summer peak tourism and buying season also witnessed a greater percentage of consumers ready to spend on durable commodities, the report noted.

Moreover, the NBA statistics show that Chinese consumers are more positive about the current state of the economy. But while positive over economic prospects and personal incomes, they still have some worries.


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