Survey hints at tendency to spend more

Chinese citizens are now more willing to spend rather than save, according to a first-quarter survey by the country's central bank. They have also shown a better willingness to invest, including in the stock market, despite the sluggish market conditions.

The survey was done on 20,000 people in late February. Around 64.5 percent of those surveyed said interest rates on deposits were too low.

The People's Bank of China, or the central bank, had trimmed interest rates continually since September last year to lower the cost of capital in an effort to beat the global financial crisis.