Food in the mainland

The city's consumer confidence index covers economy, employment, prices and life.

In the first quarter, the overall consumer confidence index in Hongkong recorded 81.8, down 2.4% on a quarterly basis. Confidence in prices fell for the eight consecutive quarter and reached a new low for two years, only 48.3. The employment status index was slightly higher than 100, the highest since the first quarter of 2009.

As consumer confidence continues to fall, Cao Guohui, Associate Dean and associate professor of management science at City University, said Hongkong residents are worried about the high price of property and inflation and the quality of life.

In the first quarter, apart from the government's announcement of 6000 yuan, there was no other incentive to stimulate consumer confidence.

In addition, the depreciation of the Hong Kong dollar has led to imported inflation.

On the same day, the "new forum" released the first quarter Hongkong economic confidence index survey, which shows that the economic confidence index of the citizens decreased by 6.8 and 2.4 respectively compared with the same period last year and the fourth quarter of last year. The proportion of the economic deterioration in the next six months increased to 16% from 16% in the same period last year, while the proportion of the poorer households in the next six months will also increase by 7 percentage points.

Pang Ailan, director of the new forum, said that the high inflation situation will continue for some time. The SAR government should consider launching a number of one-time relief measures in the light of the high inflation period in 2008 to alleviate the pressure on the public.

In addition, in view of the single problem of Hongkong's economic development mode, the government should make greater efforts to make Hongkong's industries more diversified, provide policy, tax or financial support, enhance the public's confidence in the economic prospects, and let the economic results benefit more citizens.