China ranks third in the Asia-Pacific region in terms of consumer confidence, with 56 percent of Chinese saying they are optimistic about the economic outlook, according to the results of the latest ACNielsen Consumer Confidence survey, released yesterday.
In contrast to the high level of confidence in the country, continued economic uncertainty across the Asia-Pacific region has led the majority of consumers in other countries and regions in the area to believe that recovery from the global recession is at least 12 to 18 months away, the survey shows.
ACNielsen's consumer confidence poll was an online survey of over 9,800 consumers in 13 Asia-Pacific markets. The survey in China polled over 1,800 Internet users. Seventy-seven percent of the Chinese respondents were full-time salary earners and about 60 percent held bachelor's degrees or above.
"Across the Asia-Pacific region, people's expectations for recovery are in a holding pattern because of concerns over economic uncertainty or, in some countries, terrorism and war. But Chinese people are generally free of such concerns," said Alistair Watts, managing director of ACNielsen China.
The survey results reveal that the country ranks among the most optimistic in the region: 56 percent of Chinese respondents polled expected the world economy to recover within a year, following India at 67 percent and Singapore at 62 percent.
"On the Chinese mainland, we see continued high confidence regarding the economic situation," Watts said.
A previous ACNielsen survey in the Asia-Pacific region, in the first quarter of 2002, also reported China as optimistic about the economic outlook.
Japan and Indonesia are the most pessimistic in the Asia-Pacific region about economic recovery, with a majority of consumers either not expecting a recovery within a year, or saying they don't know when the global economy will climb out of recession.
(China Daily January 9, 2003)