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Higher Chinese consumer confidence

(Xinhua)
Updated: 2006-09-28 09:33

Chinese consumers are more confident than their counterparts in the United States according to a market research consulting company.

The U.S.-based Michigan Consulting Group released the survey findings on Tuesday in Shanghai.

According to the survey, conducted in the third quarter of the year, the consumer confidence index in China stood at 106.9, while in the United States it was 82.0.

Stronger consumer confidence indicates that consumerism is likely to contribute more to China's gross domestic product, company sources said.

The survey questioned 3,000 Chinese families selected from 29 provinces, autonomous regions and municipalities.

The findings show that consumers from Changsha, Shenzhen, Hohhot, Xiamen, Qingdao and Shanghai cities were more confident, while those from Hangzhou, Nanjing, Dalian and Shi Jiazhuang cities were relatively less confident. The consumer confidence index in Beijing, Guangzhou, Chongqing, Chengdu and Harbin cities stood between the two groups.