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The survey said that more than 20% of Chinese residents said that "prices are too high to accept"

A survey conducted by the People's Bank of China in 50 cities in China in the middle and late May showed that only 13% of the respondents thought the price was “satisfactory” and the current price satisfaction has been reduced to 1999. The lowest level since the survey; more than 20% of the residents said: "Prices are too high, it is difficult to accept."

Residents surveyed are not optimistic about future price expectations. Nearly 40% of residents believe that prices will rise in the next quarter, and only less than 8 percent of residents expect prices to fall in the next quarter.

Despite the high price, due to the low interest rate on deposits, only about 30% of the residents chose “more savings” at current prices and interest rates, a decrease of 2.5 percentage points from the previous quarter. Conversely, higher-interest government bonds and higher-yielding stocks or funds are favored, with 15 percent and 10 percent of the respondents choosing to “extract money to buy government bonds” or “withdrawal to buy stocks or fund".

Based on the current situation of high prices and low interest rates, the urban residents' willingness to consume has generally risen cautiously. According to the central bank's survey this season, the number of residents who believe that “more consumption is the most cost-effective” has increased slightly by 0.4 percentage points from the previous quarter, but it is still at a low level since 2002.

Statistics from the National Bureau of Statistics show that consumer prices rose by 3.3% from January to May this year compared with the same period last year. Consumer prices rose by 4.4% in May compared with the same month last year. In particular, food prices have risen more, which should be the main reason for the general residents' satisfaction with lower prices.

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