Consumer confidence at record high

BEIJING - Chinese consumer confidence in the first quarter hit the highest level since 2007, but people's willingness to spend was slightly reduced by high property prices, said the latest market prospects research report.

Consumer confidence hinges on local job prospects, personal finance and willingness to spend, according to experts at the China Economic Monitoring & Analysis Center affiliated to the National Bureau of Statistics (NBS) and international market researcher Nielsen Co, which jointly released the report on Thursday.

"This significant jump is largely driven by increasing confidence of consumers in central and rural areas, as well as big improvements in consumers' perception of local job markets and personal finances," said Mitch Barns, president of Nielsen Company (Greater China).