Bankcard holders' consumer confidence higher in Feb.
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Chinese bankcard holders' consumer confidence in February was up year on year, according to an index issued jointly by China UnionPay and Xinhua News Agency on Tuesday.
The Bankcard Consumer Confidence Index (BCCI) stood at 86.63 in February, 1.07 points higher from the same period last year and slightly lower than last month's 86.81, said the index report.
The report said daily necessities took a bigger share of bankcard holders' total consumption in February as a result of the Spring Festival holiday during which prices and sales of daily goods both rose.
The report attributed the relatively high consumer confidence to the optimistic outlook people generally had of the Chinese economy.
The high confidence also stemmed from the growing consumer demand during the Chinese Lunar New Year in the fields of tourism, transportation, catering and home appliances, the report said.
Xinhua News Agency and China UnionPay, a national bankcard association, started the BCCI index jointly in April 2009.
The index, which is based on bankcard transaction data, can objectively reflect structural changes in urban residents' consumption behavior.
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