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Chinanews, Beijing, Dec. 5 – The China News Weekly and China Mainland Information Group recently carried out a survey to investigate how Chinese people feel about the current price hike. The result shows that many residents are greatly concerned with the current commodity price rise.
The survey was conducted among 1,200 people in Beijing, Shanghai, Guangzhou and Chengdu at age over 18. The poll shows that 27.3% of them fear that the current price hike might develop into an overall inflation. Among respondents who make less than 2,000 yuan a month, 87.9% feel that the current price hike has brought “large” or “relatively large” pressure on them. Of this group of people, 63.6% try to cut down their daily expenses in order to offset1 the rising costs, while 10.1% try to buy more commodities at one time for storage purpose. People whose monthly income is between 2,000 and 4,000 yuan might feel the less pressure, as only 4.0% of the respondents indicate. Nearly 60% of the respondents feel that the current price hike has spread to more commodities. As people anticipate that inflation might occur in the near future, everyday there is always some gossip among people on the streets and lanes that certain goods have become more expensive. Due to the price hike, bank savings2 today have shrunk greatly. Nevertheless, deposit in banks is still a more preferable option for some people, especially for those who make less than 2,000 yuan a month. As the survey shows, among people who belong to this group, only 4% will choose to take out their savings for consumption or investment purpose, while 13.1% will set aside a sum of money for emergency use.
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