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Households upbeat about outlook

Chinese households in July had more confidence in their finances and the country's economy, according to a wealth climate index released by the Bank of Communications on Monday. The bimonthly Climate Index of China's Wealth rose to 137 in July from 133 in May. Readings above 100 indicate growth in wealth, while readings below 100 represent deterioration. The survey solicits the opinions of well-off Chinese households on three indices: the economy, income and investment. The report surveyed 1,850 families with annual after-tax incomes above 100,000 yuan ($15,750) in five major metropolises.