SHANGHAI, June 27 /Xinhua-PRNewswire/ -- Xinhua Finance Limited ("XFL"; TSE Mothers: 9399; OTC ADRs: XHFNY), China's premier financial information and media provider, today announced the launch of the Xinhua Finance eziData China Consumer Confidence Index (CCCI), a new barometer of Chinese consumers' changing outlook toward the macro-economy, pricing and living conditions.
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The CCCI is produced in conjunction with Dr. Richard Curtin, Research Professor and Director at the Institute of Social Research of the University of Michigan, a globally recognized authority on consumer sentiment research, who also conducts the well-known University of Michigan Consumer Sentiment Index. Dr. Curtin has conducted or been involved in many consumer confidence surveys in the United States and other parts of the world, and is providing guidance to ensure the new China index meets international standards.
The monthly updated China Consumer Confidence Index is designed to be the most frequently released consumer confidence index by an independent third party research operation in China. The CCCI is composed of two sub-indexes, namely, the current index and expectations index, covers four key sectors (real estate, durables, automobiles and stock investment) and offers detailed demographic data on age, income level and geography.
An effective measurement of consumer behavior, the index is intended to enable financial professionals, analysts, and strategy and policy makers to keep closer track of trends in the Chinese consumer market and to understand the market directly from the consumers.
"The launch of this new product represents our continued efforts to bring international standards and best practices to China and enhance the transparency of the market," said Ms. Fredy Bush, CEO of XFL.
"Over the last two years, we have been expanding our capability from serving financial institutions to professionals in China who require market intelligence and investment information. We are glad to be able to utilize our expanded capabilities and integrate our subsidiary's research expertise in providing a new tool for understanding China's consumer market," she added.
The index has been developed through a partnership between eziData and XFL subsidiary Xinhua Finance Media (Nasdaq: XFML), leveraging Xinhua Finance Media's market research capabilities and Xinhua Finance's well-established brand reputation and distribution channels. eziData is a local provider of China consumer data, serving both financial and consumer market participants.
"We are proud to work with Dr. Curtin of the University of Michigan with the support of Xinhua Finance family," said Ms. Kathy Chen, President of eziData. "I am confident that the University's highly recognized methodology in consumer confidence indexing and Xinhua Finance Media's expertise in China's consumer market can be effectively combined in the customization of a tool that reflects the real situation within China and fulfills the requirements of sophisticated users."
The survey for the index is conducted in 50 top cities across mainland China, targeting demographics with strong consumption capacity. The index results are released on the last Wednesday of each month.
The results of the latest June survey indicate that Chinese consumers showed a slight confidence decline due to growing concerns over recent price increases, including the spike in pork and egg prices during the month. A summary of the first survey results is attached.
For more information about Xinhua Finance eziData China Consumer Confidence Index or to subscribe to the latest monthly survey report, please contact us via info@eziData.com .
Methodology
Xinhua Finance eziData China Consumer Confidence Index is produced in association with Dr. Richard Curtin, Research Professor and Director of the Consumer Sentiment Surveys at the Institute of Social Research, University of Michigan. The index is based on a monthly survey of 1,500 Chinese households via stratified random sampling in 50 representative cities across the eastern, middle and western parts of China using the well-established methodology of the University of Michigan. All data is collected via computer assisted telephone interviewing (CATI). Index of April 2007 survey is set as the benchmark (100).
Notes to editors:
About Xinhua Finance Limited
Xinhua Finance Limited is China's premier financial information and media service provider and is listed on the Mothers Board of the Tokyo Stock Exchange (symbol: 9399) (OTC ADRs: XHFNY). Bridging China's financial markets and the world, Xinhua Finance serves financial institutions, corporations and re-distributors through five focused and complementary service lines: Indices, Ratings, Financial News, Investor Relations, and Distribution. Founded in November 1999, the Company is headquartered in Shanghai, with offices and news bureaus spanning 11 countries worldwide. For more information, please visit http://www.xinhuafinance.com .
About eziData
eziData is a local provider of China consumer data, serving both financial and consumer market participants. It aims to serve global and local business professionals with decision-making tools that relate to consumption in China and conform to international standards. eziData's comprehensive portfolio of high-quality consumer data products, which includes a structured real-time databank, delivers a broader and more insightful view of the market. For more information, please visit http://www.eziData.com .
For the appendix, "Xinhua Finance eziData China Consumer Confidence Index Survey Summary in June 2007", please refer to http://www.ezidata.com/pages/public/ccci/latestIndex.jspx .
For further information, please contact:
Xinhua Finance
China:
Ms Joy Tsang
Tel: +86-21-6113-5999, +86-136-2179-1577
Email: joy.tsang@xinhuafinance.com
Taylor Rafferty (IR Contact)
Japan:
Mr. James Hawrylak
Tel: +81-3-5444-2730,
Email: james.hawrylak@taylor-rafferty.com
United States:
Mr. John P. Dudzinsky
Tel: +1-212-889-4350
Email: xinhuafinance@taylor-rafferty.com
