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Chinese consumers continue to show more willingness to spend as well as optimism about personal income growth and employment opportunities thanks to a stabilizing economy, according to a new survey.
China's Consumer Confidence Index (CCI) reached 112 points in the second quarter of 2017, up two points from the previous quarter and the highest score since Q4 2013, according to the latest survey by global market research firm Nielsen.
Nielsen's CCI measures perceptions about local job prospects, personal finance and immediate spending intentions. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.
The CCI level reflects the steady growth of China's economy, which expanded by 6.9 percent in the second quarter of 2017, the same as in the first quarter.
China's development strategies, including coordinated development of the Beijing-Tianjin-Hebei region, and the Belt and Road initiative, are helping the Chinese economy to expand steadily, and the country's upgraded consumption is accelerating as more Chinese are willing to spend, said Vishal Bali, managing director of Nielsen China.