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Chinese people optimistic about financial status

By SHEN JINGTING | | Updated: 2013-03-25 17:17

Chinese consumers expressed strong optimism about the country's economic prospects in a survey, with 75 percent of respondents expecting their financial status to improve over the following decade.

Despite slower economic development, three quarters of Chinese consumers are still very confident that they will achieve a better individual or family financial situation in the next 10 years. The figure is 11 percent higher than that of the previous year, according to a survey conducted by marketing services firm Epsilon.

About 400 Chinese consumers from different economic backgrounds were polled. The Chinese report is one of the global consumer reports done by Epsilon.

Based on their strong confidence, about 30 percent of Chinese respondents said that they were willing to spend more money in entertainment. The figure was 6 percent to 8 percent higher than that in other Asia-Pacific countries.

The survey also found that Chinese consumers no longer worship foreign brands blindly. Though they still respect international brands, more Chinese people tend to support domestic brands.

About 43 percent of Chinese shoppers expressed strong support for domestic brands, up 12 percent year-on-year, the survey showed.

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