China consumer confidence highest in the world

Visitors, some wearing face masks, gather to take souvenir pictures with a giant Christmas tree decorated at a hotel on the eve of Christmas in Beijing, Saturday, Dec. 24, 2022. - AP

BEIJING: China holds the highest consumer confidence index score at 72.2 in December, and it is the only country with a score above 70, according to the global marketing research group Ipsos on Dec 22.

Moreover, China's scores in the expectations index, investment index and jobs index are also seeing a significant increase in December.

The global consumer confidence index read at 45.9 in December, up 0.4 points compared with last month, according to the marketing research group.

The result is based on a monthly survey of more than 17,000 adults under the age of 75 from 23 countries.

China's consumer market is large, and the consumption growth is strong. Although the consumption demand has been temporarily suppressed in the past two years due to the epidemic impact, China still has huge consumption potential, said the Global Times, citing Yang Delong, chief economist of Shenzhen-based First Seafront Fund.

The investment index and jobs index increasing is indicative of the consumers becoming optimistic about their future financial situation, the local economy and the job environment, Yang added. - China Daily/ANN

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