Consumers upbeat

Source: Xinhua | 2017-02-22

CHINA’S consumer confidence index climbed 2 points to 108 in the fourth quarter of last year, a survey showed yesterday, with consumers remaining upbeat on job prospects. 

Retail upgrading also lifted sentiment. China has been seeking to drive economic growth through domestic consumption instead of investment. The annual consumer confidence index dipped 1 point to 106 in 2016 from a year ago but remain generally stable as the country’s economic development entered a “new normal,” indicating that China’s consumer confidence was positive and optimistic throughout the past year, according to the Nielsen Consumer Confidence Index.