China's Consumer Confidence Index rose to 97.3 points in June, 0.2 points higher than May, according to a monthly report released by the National Bureau of Statistics (NBS) on Friday.
The NBS report said that 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 nationwide (with 700 consumers selected for each of these cities), compares results with its base year, 1997, when it stood at 100.
The index gauges Chinese consumers' opinions of the current state of the economy and their longing for future incomes and economic health.
The NBS attributes the Consumer Confidence Index rebound to the revitalized Chinese stock market, saying it has broken away from its year-long doldrums. Seventy per cent 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 buy durable commodities, the report said.
Moreover, the NBS statistics show that Chinese consumers are more positive about the current state of the economy. While they are positive over economic prospects and personal incomes, they still have some worries.
(Xinhua News Agency July 6, 2002)
