By Wang Yanlin | 2013-2-5 | ONLINE EDITION
CHINESE households exhibited renewed interest in purchasing stocks and real estate last month as the investment environment improved, a survey showed today.
The China Wealth Index, compiled by Bank of Communications to gauge confidence among Chinese households, stood at 129 in January, up sharply from 117 in November and 113 in September. A reading above 100 means optimism.
The component indices showed that people's willingness to buy non-fixed assets increased to 127 in January from 114 two months earlier, and 20 percent of respondents showed a desire to increase their investment in the stock market, up from 8 percent in November.
The sub-index measuring people's sentiment to buy property expanded to 111, up from 107 in November.
"Both stock and real estate markets in China staged a strong performance in recent months, boosting people's confidence as well as enthusiasm in such investments," said Lian Ping, chief economist at Bank of Communications.
The Shanghai Composite Index has climbed above 2,400, up nearly 20 percent in the past two months and ending a two-year losing streak. The domestic property market, though still under the grip of restrictive policies, has seen transactions surge 90.3 percent from a year earlier due to a mild economic recovery.