A survey released yesterday shows that Shanghai’s consumer and investor confidence rose back in contention in this year’s third quarter.
A 4.1 point increase from the second quarter to a 122.5 point register for the third is what the latest Shanghai University of Finance and Economics revealed.
The university’s Index of Investor Confidence, peaked at 116.18 points, almost 10 points higher than the second quarter. A reading above 100 shows optimism while anything below it indicates otherwise.
According to Xu Guoxiang, director of the university’s Applied Statistics Research Center, the stronger consumer confidence in Shanghai’s economy was mainly attributable to the overall stable domestic economy and robust development in innovation. It is also important to cite the contribution of information technology application despite the complexities arising from the current international situation.
Sub-index for employment evaluation has also increased, reaching its highest level since the survey was launched. A fine indicator that the city’s employment situation is increasingly stable.
according to, director, the stronger the consumer confidence is, the higher the chances for sub-index of purchase intentions to elevate, offsetting the previous slump.
The index measuring home-buying intentions had a bad second quarter this year but registered a sharp year-on-year rise of 15 points.
The intention to buy cars is up 86.9 points after faltering 1.8 points last year while durable goods bounced back with 103 points,indicative of recovery in domestic demand.
Policy priority to “stabilize employment, finance, foreign trade, foreign investment, investment and market expectations” resulted to a more positive attitude in the investor index explains Xu and Chang Ning a professor from the university’s school of statistics and management.
“In addition, exports were better than expected and macro-economic fundamentals remained stable.
It was in late July when the SSE STAR Market began trading and boosting the investment value of the A-share markets. Alongside continued inflow of foreign capital, the market posted a large amount of turnover and investors have seen higher earnings. confidence of investors have been generously lifted too.
