Central bank survey shows nearly 60 percent of residents consider the prices as unacceptably high in China

By | June 21, 2013

In second quarter of 2013, the People’s Bank of China surveyed the country’s 20,000 urban depositors from 50 cities which showed that 59.1 percent of residents believe that prices are “unacceptably high”, down 3 percentage points from the previous quarter. Residents future price expectations index was 66.8%, essentially flat with the previous quarter. Among them, 36.8 percent of the population expected that in the next quarter the price level will be up, 51.8% of residents expect the price will be “basically unchanged” or “down”.

Those who tend to “save more” accounted for 46.2% among the surveyed residents, an increase of 1.7 percentage points compared with the previous quarter; those who tend to “spend more” account for 18.1%, an increase of 0.2 percentage points compared with the previous quarter; those who tend to “invest more” account for 35.7%, down 1.9 percentage points compared with the previous quarter. The top three preferred investment among the residents are as follows: “Fund and wealth management products”, “real estate investment” and “bonds”, accounting for 24.8%, 18.3% and 16.8% respectively of the surveyed residents.

Source: China.com.cn

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