(ECNS) -- Beijing residents are becoming less confident about income growth and consumption, favoring more investment instead, according to a survey released by China's central bank on Tuesday.
The index measured individual confidence in getting an income increase in the next quarter. It fell by 2.1 points to 47.5, a decline for the second quarter in a row.
More than 85 percent of respondents think their family income in the fourth quarter has "increased or basically remained the same," an increase of three percentage points over last quarter.
Under current price and interest rate levels, 23.1 percent prefer spending, a fall of 1.6 percentage points, and 39.5 percent are more willing to deposit money in a bank, a decrease of 1.4 percentage point.
The survey also shows that 37.4 percent in the capital city favor more investment, a growth of three percentage points.
When it comes to spending, the willingness to buy expensive goods, travel, and purchasing a car have all fallen by 3.5, 7.3, and 3.5 percentage points respectively.
In terms of investment, the top three choices are funds and financial products (33.7 percent), stocks (20.6 percent) and bonds (20.3 percent).
