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Introduction of “Xinhua•Unionpay” Bankcard Consumer Confidence Index

Xinhua News Agency and China Unionpay jointly released the “Xinhua•Unionpay” Bankcard Consumer Confidence Index (BCCI) for the purpose of providing a reference for the government and enterprises making decisions by predicting the level of consumers’ confidence in the macro economy. BCCI is calculated through data mining bankcard transaction information, and reflects the subtle changes in consumption behavior of urban residents in China as well as the current status and trend of consumer confidence, so as to truthfully and objectively reflect the structural changes in urban residents’ bankcard consumption behavior, provide objective and reliable evidence for guiding the consumption trend of urban residents and promoting the development of consumption market, and become one of “barometers” for the national economy.

The BCCI released by Xinhua News Agency and China Unionpay showed that it maintained at a relatively high operation level and an upward trend despite a little fluctuation from Q1, 2008 to Q1, 2009, indicating that Chinese urban consumers’ confidence still maintained at a relatively high level. With the ongoing implementation of large-scale economic stimulus package, the urban residents in China will be more optimistic about China’s economy and their incomes in the future. In addition, the potential market demand will remain robust, and the domestic demand still has much room to grow.

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