Consumer confidence of Young Chinese soars as U.S. consumer confidence sinks

The China Market continues to thrive with double-digit increases in both retail sales and GDP. Unprecedented growth, combined with some extra cash found in red envelopes from the Chinese New Year, has helped to fuel young Chinese consumers’ confidence in the first quarter of 2008, according to BIGresearch’s latest China Survey of over 4,500 young Chinese consumers between the ages of 18-34.

When it comes to economic outlook, 74.3% of Chinese consumers ages 18-34 say they are confident/very confident in their economy, a stark contrast in comparison to their American counterparts as only 33.2% say the same.

71.1% of Chinese would definitely/probably invest in the Chinese stock market, vs. the 53.1% of American consumers who have the same feelings towards the U.S. stock market.

70% of Chinese car owners indicate gas prices have greatly impacted their spending, compared to 83.7% of American car owners.

20.9% of Chinese car owners say they will take fewer shopping trips as a result of fluctuating gas prices; 36.5% of American consumers are likely to do the same.