Consumer Confidence Indicator Goes Further up in China

SHANGHAI, Jan. 29 -- China's consumer confidence index, or CCI, reached a record high over the past 30 months at the beginning of 2010, with a sustained upward trend, according to a report released here Thursday.

The report was jointly released by the world leading consulting company, Nielsen, and China economic performance monitoring center under the National Bureau of Statistics.

It, which was the first CCI report on China for this year, was based on a survey of more than 3,500 consumers in urban and rural areas across the country.

The nation's CCI rose 16 points over the past nine months to reach 104, according to the report.

The report attributed the increase mainly to Chinese consumers' confidence about labor market and to improvement of personal financial conditions.

Around 63 percent of consumers surveyed said they were confident about their personal income in the coming 12 months. Confidence grew fastest in western regions.

Mitch Barns, president of the Nielsen Company Greater China, said intention of consumption grew in China, which was a sign of economic recovery and stability in the country.

The report showed that as the national economy began to recover, income and health became top concerns of consumers, in comparison with job stability and economic performance at the beginning of 2009 when China's CCP bottomed.

The report also indicated that Chinese consumers were strongly interested in buying new- and high-tech products. Those in first-tier cities are more willing to invest in stock markets and spend on traveling.

CCI measures consumers' expectations for their jobs, personal financial situation and intention of consumption in next 12 months.