Domestic cardholder consumer confidence shocks rise

China UnionPay and Xinhua News agency yesterday jointly released the two quarterly "Xinhua UnionPay" Bank of China Card consumer confidence index ("BCCI") showed that this year, domestic consumer confidence has stabilized, although there are small shocks but still in the normal range of fluctuations. The two-quarter BCCI was 85.58, though slightly shaken by 86.95 in the first quarter of this year, compared with 85.31 of the full-blown financial crisis in the third quarter of last year, from the first quarter to the present, which shows that consumer confidence has stabilised, according to research.　　But with the rapid rebound in housing prices since the two quarter, to a certain extent, diverted the residents of the consumption of non-essential necessities, at the same time, the recovery of the capital market attracted consumers idle funds, by the two factors formed by the "extrusion effect" effect, the two-quarter cardholder consumer confidence index a small oscillation, but still in the normal range of fluctuations. Index analysis shows that since the beginning of 2009, the economic recovery of the expectations and macroeconomic policies, the domestic real estate market quickly recovered.　　From the bank card transaction data, the two quarter of this year, domestic real estate bank card processing business volume and transaction amount of the number of transactions increased by 63% and 100% respectively, significantly higher than other types of bank card processing business growth rate. The fast-warming housing market is showing signs of economic recovery, as well as diverting consumer spending from non-essential necessities. In the bank card holders, a considerable part of the purchase has a strong demand for housing, in the absence of a significant increase in nominal income, the rise in housing prices to some extent, the cardholder in the area of non-essential consumer spending.　　At the same time, the two quarter since the rapid recovery of capital markets, absorbing a considerable amount of residents idle funds, which also affected the people in the area of non-essential necessities of consumption will. In the BCCI release, China UnionPay also for the first time in Beijing, Shanghai, Shenzhen, Tianjin, Liaoning five regions of the BCCI tracking monitoring and analysis. Data show that Beijing, Shanghai, Liaoning three cardholder's consumer confidence index showed a marked rise in the trend, which, BCCI in Shanghai reached 86.57 in the quarter, the highest level since 2008, and the BCCI in Liaoning province increased from 80.95 in the first quarter to 84.64, and the chain growth was particularly significant. The quarter BCCI in Beijing was 81.85, which was significantly higher than in the first quarter.　　In Shenzhen and Tianjin, the cardholder's consumer confidence index was 87.59 and 85.45 respectively, showing a slight fall in the first quarter, but remained in high position. Experts say that under normal circumstances, the more consumer spending on non-essential necessities, such as eating, wearing and using, reflects the better macroeconomic situation and personal income, and the more optimistic consumers will be about the future economic situation and personal income prospects.