(Yicai Global) Jan. 2 -- Mainland China came in second place in a Consumer Confidence Index ranking that MasterCard published last week with a score of 92.2 on a 100-point system. The Philippines' 94.5 put it in first.
MasterCard interviewed 9,141 consumers aged 18 to 64 in 18 markets in the Asian-Pacific region in October and November. In mainland China, the interviews mainly covered Beijing, Shanghai, Guangzhou, and Wuhan.
Participants made predictions for the next six months on the economy, employment, fixed income, the stock market and quality of life and the study turned their responses into five indexes with zero representing extreme pessimism and 100 marking extreme optimism.
Replies from males and females in mainland China led to comparable scores. The CCI, fixed income, stock market and quality of life figures based on Chinese males were 92.1, 97.0, 80.9 and 96.8. Those of Chinese females were 92.2, 96.0, 83.2 and 96.0.
Wuhan scored the highest among the four mainland Chinese cities for indexes of the economy, employment, fixed income and quality of life. Its quality of life and fixed income indexes were 100 and 99, respectively. Guangzhou had the highest stock market confidence index with a score of 86.8. Responses from consumers in Beijing, Shanghai and Guangzhou on fixed income yielded indexes of 94.5, 96.4 and 97.
"It is good news for relevant industries to hear that Chinese consumers are highly optimistic about their fixed incomes, economy, employment, and quality of life, which represents strong consumer willingness and market demand," said Chang Qing, president of MasterCard's Chinese business.
In the second half of last year, the CCI stabilized in 10 of the 18 studied markets. Hong Kong saw the fastest growth with its CCI increasing 15.2 compared with the first half. South Korea witnessed the largest drop, with its CCI falling 20.9.