China’s consumer confidence remained high in the second quarter of the year, according to a research report by global measurement and data analytics company Nielsen.
The country’s Consumer Confidence Index (CCI) stood at 113 points between April and June, down two points from the previous quarter, but still well above the baseline of 100 that demarcates optimism and pessimism.
Andy Zhao, President of Nielsen China, saw a resilient Chinese economy despite a more complex global economic situation.
“The structure and production efficiency of the economy are steadily optimizing, and the transformation and upgrading of the economy continue to open new drivers for growth. That laid a solid foundation for high-quality economic development,” he said.
Nielsen’s CCI measures perceptions of local job prospects, personal finance and willingness to make purchases.
All three components of the CCI remained high in the second quarter, with local job prospects climbing seven points from 68 points in the same period last year.
The willingness to spend increased four points from 56 points a year earlier, while personal finance in the second quarter stood at 68 points.
In the first seven months of the year, China’s retail sales expanded 9.3 percent year on year, compared with 9.4-percent growth in the first half, data showed.