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BoCom wealth climate index gains
Last Updated: 2018-02-07 10:39 | Xinhua
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The wealth climate index released by Bank of Communications (BoCom) gained in January as households were more optimistic about income growth.

The bimonthly index rebounded to 140 from 137 in November, according to a BoCom report Tuesday. Readings above 100 indicate wealth growth, while readings below 100 represent loss.

BoCom attributed the rise to income increases. "Moderately well-off households across the country were more optimistic about wealth increases, especially those in southern areas."

The bank surveyed Chinese households on three indices: the economy, income and investment.

All three sub-indices went up, with the one for income growth climbing to 155 from 150 due to year-end bonuses.

The sub-index for the economy edged up to 137 from 136 as the country'sGDPgrowth accelerated for the first time in seven years in 2017, and that for investment went up to 125 from 123 as households became more willing to make investments with wealth management products most favored.

The report surveyed around 1,800 families with annual after-tax incomes above 120,000 yuan (around 19,000 U.S. dollars) in four major metropolises, including Beijing and Shanghai, as well as those with incomes over 100,000 yuan in the southwestern city of Chengdu and those with incomes over 80,000 yuan in other major cities.

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