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China's consumer confidence rises: survey

Xinhua | Updated: 2013-07-24 09:20

BEIJING - China's consumer confidence rose in the second quarter of the year despite an economic slowdown, according to survey results issued by global marketing research company AC Nielsen on Tuesday.

The company's index for consumer confidence stood at 110 points in the April-June period, up 2 points from the previous quarter and 4 points from the same period last year, the survey showed.

Yan Xuan, president of Nielsen Greater China, attributed the rise to consumers' greater willingness to spend and improving personal finances.

AC Nielsen calculates its quarterly index based on online research among 3,500 shoppers across China. A reading above 100 points indicates optimism.

The firm's study also showed that consumers in first-tier cities had the strongest confidence in spending compared with their counterparts in smaller cities and rural areas.

China has been emphasizing the significance of domestic consumption as part of its switch away from export- and investment-led economic growth.

Official data showed that China's economy expanded 7.5 percent in the second quarter, a slower pace than the 7.7-percent growth seen in the first quarter. Consumption contributed to 45.2 percent of the country's GDP growth in the first half, which stood at 7.6 percent.

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