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The study of wealthy Chinese, released this month, the Oliver Weman’s consulting firm showed that 22% of respondents were negative in the economy in May. It just exceeds 21%, noticed in October 2022, just before Beijing announced the plans to facilitate its tough zero communication policies.
Photographer Dukai | Moment | Gets the image
Beijing – Wealthy China feels as bad about the economy as during the pandemic.
This is, according to a study of wealthy Chinese, released this month by the consulting firm Oliver Weiman, who found that 22% of respondents were negative about the economy in May. It just exceeds 21%, noticed in October 2022, just before Beijing announced the plans to facilitate its tough zero communication policies.
When asked about the five -year horizon, the respondents were much less raised than they were in 2022.
“This is a fundamental shift for us,” said the Vuters, Oliver Wyman, said CNBC. “If you think” I don’t have a good financial situation now, “your expenses, savings will be very different.”
“The longer it (dragging), the more negative they become about the long -term future, and the more careful they get to costs,” Vuters said.
These conclusions come when China recorded slowing the growth of retail salesand Sustainable deflated pressure Because businesses reduce competition prices. Sliding prices in propertyMost of the household riches also weighed the mood.
Oliver Weiman’s research was conducted from May 16 to 27. Over the past three years, the company has conducted similar surveys. The last study covered 2000 households monthly income of over 30,000 yuan ($ 4180).
This is a share of consumers in China, where one -time per capita income in urban areas was 54 188 yuan. It is much less than 64 474 dollars reported for the US As of December.
Young people are the most pessimistic
Young people (aged 18 to 28) in wealthy income living in the largest cities in China were the most pessimistic of four age categories, fixing the greatest drop in May 2024, the survey showed.
Unemployment rate for those between the ages of 16 and 24 remained in the middle of adolescents, despite the overall level without difficulty, which remains much lower than 5%.
Surveys between the ages of 29 and 44 were most optimistic, especially when it comes to their five -year forecast.
In China, most riches have been sitting since millennia and gene X, said Vuters, citing those that are generally 30 to 60 years old. She attributed her relative optimism with a higher level of accumulated wealth and stability, as well as the feeling that “old old days” could return – the prospect she expressed can come with age.
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The official Consumer Consumer Index remained depressed after in November 2022, when China, Limited movement Aspiration Prevent the COVID-19 outbreak. The latest printing was 88, according to May, according to the latest available data of the National Statistics Bureau, which is addressed by wind information.
People in China have become significantly dissuaded perceived “an uneven opportunity“What in 2023 caused the No. 1 that respondents believe that people are bad, jumping from No. 6 almost two decades ago.
The poll showed that all the respondents fell in all income brackets that their families had decreased in 2023 compared to previous years.
International Journey is recovering
But despite their negative economies, many wealthy Chinese are more striving to travel internationally than before the pandemic.
For example, spending on a luxury product, they are rather “spending what can make (feel) better,” said Vuters.
“You just want to enjoy the moment,” she said.
Oliver Weman predicts the share of wealthy Chinese travel this year, will reach 37%than the 32%level observed in 2019 before the pandemic. So far, 27% of respondents have already traveled abroad, and 10% is more expected to travel at the end of this year.
However, wealthy Chinese do not necessarily return to hot spots to the pandemic, such as the US, the report said, noting that instead they adhere to the house. Trips in Chinese to Malaysia and Japan have already made a complete recovery to the level of 2019, showed the analysis of Oliver Weiman.
