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Chinese Consumer Confidence Index Launched
Financial information provider Xinhua Finance Limited (XFL) has launched a new barometer of Chinese consumer outlook, compiled by financial and consumer tracker eziData.
The Xinhua Finance eziData China Consumer Confidence Index (CCCI) is produced in conjunction with Dr Richard Curtin, Research Professor and Director at the Institute of Social Research of the USA's University of Michigan, who also conducts the well-known University of Michigan Consumer Sentiment Index. Curtin is providing guidance to ensure the China index meets international standards.
eziData will be surveying 1,500 Chinese households each month via stratified random sampling in 50 representative cities across the eastern, middle and western parts of China. All data is collected via CATI.
Commenting on the partnership with the University of Michigan and XFL, eziData President Kathy Chen says: 'I am confident that the University's highly recognised methodology in consumer confidence indexing and Xinhua Finance Media's expertise in China's consumer market can be effectively combined in the customisation of a tool that reflects the real situation within China and
fulfills the requirements of sophisticated users.'
The CCCI comprises two sub-indexes; the current index and expectations index which cover four key sectors (real estate, durables, automobiles and stock investment) and offers detailed demographic data on age, income level and geography.
The June index has shown a decline in sentiment concentrated on lower-income and older Chinese, while sentiment in and around Beijing and Shanghai improved during the month, particularly among the young and higher paid. Share prices had little net impact on sentiment, as a sharp rise in expectations for the stock market in the next year was offset by a drop in investment returns in June.
XFL, which was Founded in November 1999, is headquartered in Shanghai with offices and news bureaus spanning 11 countries worldwide. Web sites are at www.xinhuafinance.com and www.eziData.com .
Earlier in the month, polling firm YouGovSiraj launched a new consumer confidence index for the Middle East, in partnership with Dubai-based job site, Bayt.com (www.mrweb.com/drno/news6904.htm ).
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