Some 25.1 percent of Chinese urban residents think the current price level is unacceptably high, according to a survey announced Tuesday by the People's Bank of China, the country's central bank.
The index reflecting people's satisfaction about prices was -12.5 points in the third quarter, 1.4 points lower than the previous quarter.
Only 12.6 percent of urban residents think the current price level is satisfactory, 0.6 percentage points lower than the previous quarter.
The National Bureau of Statistics, however, announced that the price increase has been slowing down this year.
Since the beginning of this year, soaring price of crude oil in the international market has led to the price hikes of coal, electricity, oil and transport in the domestic market, and citizens have become anxious about the price trend, it said.
The bank's survey shows that urban residents are not optimistic about future price level, with 36.2 percent of them, 3.7 percentage points higher than the previous quarter, predicting higher prices.
Only 6 percent foretold a downward price level, 1.9 percentage point lower than the previous quarter.
On the other hand, citizens are more confident in increasing income. The index reflecting people's confidence in future income was 19.1, 1.9 points higher than the previous quarter.
Due to the appreciation of the renminbi and China's exchange rate system reform, 37 percent of US-dollar holders withdrew money from banks, 2.2 percentage points higher than the previous quarter and 4.4 percentage points higher than the same period last year.
In addition, 37.9 percent of residents believe more deposits assure better pay, 1.6 percentage points higher than the previous quarter, the survey shows.
The central bank attributed residents' willingness to save money to their increasing unwillingness to consume, their confidence in a robust renminbi and their limited investment opportunities.
Due to the bullish performance of securities markets in July, residents have become more confident in stock investment. The survey shows 6.5 percent of residents believe that buying shares is most profitable, 0.9 percentage point higher than the previous quarter.
Some 20 percent of
Beijing residents plan to buy houses in the forthcoming three months, but in Shanghai, the ratio is only 7.3 percent, 3.7 percentage points lower than the previous quarter, the survey shows.
