Chinese consumer confidence continues to strengthen, up four points in the latest survey and reaching highs not seen since 2007, according to the latest Chinese Consumer Confidence Report, which is jointly released by China Economic Monitoring & Analysis Centre (CEMAC) of the National Bureau of Statistics and The Nielsen Company.
With the economy improving and the government ‘s subsidies program , consumers with Low Incomes who used to have lower confidence in the economy are now closer to the National average- reaching 102 with an increase (+12 points) viruses last quarter.
Results from the China Consumer Confident Report suggest that consumers have continued to regain their optimism about their economic future; however their willingness to spend has not increased, in fact it has decreased across different regions and city tiers. 43 percent of Chinese consumers think now is a good time to spend, which is a decrease of three percent vs the prior quarter. Willingness to spend is higher among consumers in East and Tier 1 cities.
