Since JulyDBS has been working towards a full completion of the migration in all markets by early The acquisition has added a large customer franchise to DBS in Indonesia and Taiwan, which are key markets for the bank. In Indonesia, DBS gained aboutcustomers. The cards portfolio being transferred over to DBS Indonesia is also significant, with aroundcards in circulation.
We are delighted to announce the results of January - May in the accompanying release. However, there is still huge room for Chinese consumption to grow at a fast pace. The establishment of a universal medical insurance scheme and a minimum pension in the rural sector will substantially reduce precautionary savings and promote consumption.
The rural land reforms will also transfer wealth from the state to village residents, creating an enormous wealth effect. Household earnings will be lifted by rising wages and labour productivity.
A re-balancing China means consumption growth will soon outstrip GDP growth. Over the next few years, m more middle-income households will enter the market and their spending will make up two-thirds of the total urban consumption, compared with just one-third in To anticipate this trend, a tool is needed to better measure the pulse of Chinese consumers.
While existing consumer confidence surveys are available, consistent and objective private-sector sponsored surveys are few.
We are delighted to announce the results for the period of January-May separately. The nation strives to double its per-capita income by from levels by shifting from an investment-led growth to a consumption-driven growth.
Meanwhile, concrete structural reforms are under way or expected to take place in order to achieve this grand strategic shift. A minimum pension has been established for rural retirees, who previously relied on family-based solutions.
The ongoing land lease title reform will transfer the de facto land ownership from the state to rural farmers, creating a sizeable wealth effect that will boost rural consumption. The government is also addressing the issue of rising property prices facing low-income earners and young people by reintroducing a public housing program.
Inits nominal value was estimated to be USD3. Taking financial services for example, the increasing consumption in China is bound to spur the growth of the under-developed consumer credit businesses. China will surely follow the experience of the emerging economies and the developed economies, but its size will be several times bigger.
As e-commerce continues to prosper and the middle class is technologically savvy, the demand for electronic payment services will explode. With rising income, Chinese households will be able to use financial leverage in their purchases.
It is vital to have an accurate measure of consumer sentiment in China. Every month, we will survey 1, households across major cities in China based on a well-established methodology that has been used by Roy Morgan for many years across Asia Pacific.*The ANZ-Roy Morgan Consumer Confidence Rating for September 15/16, , conducted by telephone, was ^84 of the Western Australian interviews were conducted by telephone on August 9/10 due to a recent Southern WA Cyclone.
VIEW OUR CONSTRUCTION INDUSTRY REPORT “The market is booming but profits are getting leaner ” Recent research from ANZ signals increased risk for the construction sector around cash-flow over the next 6 – 12 months. Australia and New Zealand Banking Group Limited, together with its subsidiaries, provides various banking and financial products and services to individual and business customers.
Why Read This Report. Since the credit crunch began to bite, Australian and New Zealand (ANZ) IT leaders have faced more positive market conditions than their peers in many other countries around the world — particularly those in North America and Europe. The Research group is highly regarded by their peers and our clients for its high-quality work.
We consistently perform strongly in global forecasting polls and surveys, including Bloomberg and FX Week, due to the ability of our forecasters to translate regional economic trends. ANZ is slashing research roles in an effort to best align itself with market conditions as well as the need of its customers.