of the Chinese economy and effectively promoted the country’s long-term stable development.
The Nielsen report also found consumers’ personal financial situation and willingness to spend have been robust.上海千花网
In Q2, the sub-index for personal finance increased from 70 in Q1 to 71, hitting a historical high, and local j
上海千花网品茶微信ob prospects and willingness to spend came in at 77 and 61 respectively, the report said.
Sargent said the Chinese government’s efforts to further cut tax an
d lower fees have reduced the cost of enterprises and enhanced their vitality.上海千花网
The consumer trend index for different regions in China remained stable, reaching 124 in the eastern region while the
northern and southern regions achieved steady growth in the past three quarters, the report showed.上海千花网品茶微信
In addition, indices for first, second and third-tier cities all have increased steadily in the past four quarters, part
icularly in the past six months, driven by better personal finance and rising willingness to spend, the report said.
“In the first half of this year, people’s livelihood indicators such as employmen上海千花网
t, costs and income all performed well. Among them, prices were basically stable, and the supply and de
mand of the whole market balanced, boosting residents’ willingness to spend,” Sargent analyzed.
He said the consumption structure of residents was further improved by a change in consumption concept and m上海千花网品茶微信
ode, which gradually released the potential of service consumption demand.
The report also showed 68 percent of Chinese consumers prefer domestic brands, and even for the 62 percent of co
nsumers who would buy foreign brands, domestic brands are still their first choice.上海千花网品茶微信
Cost performance is the main reason why consumers choose domest
ic products, but for them, quality also weighs in higher than price.