Chinese consumer confidence remained stable in the second quarter of this year as spending continues to rise due to increasing disposable income.
The China Consumer Confidence Index stayed at 111 points for the third consecutive quarter as the transformation to a consumption-driven economy fuelled spending, market research firm Nielsen said in a research report on Tuesday.
China’s consumer price inflation was probably about 2.4 percent last month, little changed from May due to only small adjustments in food costs, analysts said ahead of the release of official figures next week.
The Consumer Price Index, the main gauge of inflation, likely rose by between 2.2 and 2.6 percent in June, according to several analysts.
Confidence among Chinese consumers fell to the lowest level in nearly a year this month despite signs that measures taken by Chinese authorities have bolstered the economy, a private report showed.
The Westpac MNI China Consumer Sentiment Index fell 7 percent to 112.6 in June from 121.2 in May, the Australian bank and the German financial news company Market News International said in a joint report on Wednesday.
China continues to offer huge opportunities for retailers, with lower-tier cities set to lead a new phase of development, according to a report.
The Global Retail Development Index, a study from consulting firm AT Kearney, ranked the top 30 developing countries in terms of their retail expansion potential. Chile topped the list, with China in second.
China's economy staged a mild improvement in May as both retail sales and industrial production edged up while investment slowed. Retail sales rose 12.5 percent from a year earlier to CNY2.12 trillion (USD345 billion) last month, according to the National Bureau of Statistics on Friday.
Industrial production expanded 8.8 percent, up from 8.7 percent a month earlier.
China's annual consumer inflation rose 2.5 percent in May, faster than April's 1.8 percent rise, data on Tuesday showed.
The May consumer price index (CPI) was just above analyst forecasts in a Reuters poll for a 2.4 percent increase.
The Chinese mainland continues to be favoured by retailers eying expansion in the Asia-Pacific this year while emerging markets in Southeast Asia are also attracting rising attention, global real estate adviser CBRE said in a report released on Tuesday.
The report's second annual edition found that 64 percent of the retailers plan to open a new store on the mainland this year, ahead of Vietnam, Hong Kong and Singapore, which came in joint second with 33 percent seeking new openings, according to CBRE.
Consumer confidence in China in the first quarter climbed 3 points from a year ago but remained at the same level as in the prior three-month period, a latest study suggests.
The Chinese Consumer Confidence Index stood at 111 points in the first quarter, higher than the global average of 96, boosted by healthy growth of disposable income for both rural and urban residents, market research firm Nielsen said on Tuesday.
China consumer confidence stabilised this month but remains lukewarm due an increased risk of deflation, a private report showed.
The ANZ-Roy Morgan China Consumer Confidence Index dipped to 152.5 this month from 152.6 in April, the Australia and New Zealand Banking Group and Melbourne-based Roy Morgan Research said in a joint survey on Wednesday.
"Consumer confidence has shown signs of stabilisation, which could foretell a possible pick up in China's retail sales," Liu Ligang, ANZ's chief economist for China, said in the report.
According to a report by Economist Intelligence Unit, by 2030, the number of Chinese households with an income over USD150,000 is expected to rise to 10.3 million. Furthermore, more than one third of households in China will make over USD50,000 in income by 2030, reports China Daily. Currently, only 1 percent of households exceed USD50,000 in income.