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Statistics

Bankcard holders' consumer confidence rises in Jan

(Xinhua)
Updated: 2010-02-10 10:35

SHANGHAI: Chinese bankcard holders' consumer confidence in January was up year-on-year, according to an index issued jointly by China Unionpay and Xinhua News Agency on Tuesday.

The Bankcard Consumer Confidence Index (BCCI) stood at 86.81 in January, 2.44 points higher from the same period last year, and stayed at basically the same level as December 2009, said the index report.

The increasing consumer confidence mainly stemmed from China's steadily improving macroeconomic conditions, the report said.

China's economy resumed a double-digit growth in the fourth quarter last year, pushing the annual figure beyond the government target of 8 percent at 8.7 percent.

The index also resulted from an increase of 9.1 million urban jobs and a higher-than-8-percent income rise for urban and rural residents in 2009, according to the report.

The report also attributed the rising confidence to people's growing demand during the New Year and the approaching Spring Festival, the Chinese lunar new year, which falls on February 14 this year.

The report said China Unionpay would release the BCCI index on a monthly basis starting 2010.