Shanghai consumer confidence rose in the first quarter of this year as residents were buoyed by recent monetary policies and property measures as well as the city's innovation ambitions and the bullish stock market, a survey showed yesterday.
The Index of Consumer Confidence in Shanghai, compiled by the Shanghai University of Finance and Economics, climbed to 118.6 in the first three months from 117.6 in the previous quarter.
A reading above 100 signals optimism.
Shanghai consumers were more confident as the city's ambition to become a scientific and innovation center injected new vitality in the economy, said Xu Guoxiang, director of the university's Applied Statistics Research Center.
Xu said the plan may help the city foster sustainable economic growth in the future.
