Core Insights - The People's Bank of China conducted a survey in 50 cities, revealing a decline in income and employment sentiment among urban residents in the second quarter of 2025 [1][2] Income and Employment Sentiment - The income perception index stands at 45.0%, down by 1.2 percentage points from the previous quarter, with 10.2% of residents feeling their income has "increased" [1] - The employment perception index is at 28.5%, a decrease of 1.8 percentage points, with 6.4% believing "the situation is good, and employment is easy" [1] Price and Housing Expectations - The price expectation index for the next quarter is 56.4%, down by 0.7 percentage points, with 20.3% expecting prices to "rise" [1] - For housing prices, 8.9% of residents expect "an increase," while 21.7% anticipate a "decrease" [2] Consumer Behavior and Investment Preferences - 23.3% of residents prefer "more consumption," a decrease of 0.5 percentage points, while 63.8% lean towards "more savings," an increase of 1.5 percentage points [2] - The top five preferred investment methods are "bank non-principal guaranteed wealth management," "fund trust products," "stocks," "bonds," and "non-consumption insurance," with respective preferences of 34.8%, 24.7%, 16.3%, 15.3%, and 9.8% [2] Future Spending Plans - The top five items residents plan to increase spending on in the next three months are travel (32.1%), education (31.9%), healthcare (29.3%), social culture and entertainment (24.0%), and large goods (21.1%) [2]

Group 1: Income Perception - The income perception index for the second quarter of 2025 is 45.0%, a decrease of 1.2 percentage points from the previous quarter [1][2] - 10.2% of residents believe their income has "increased," 69.7% feel it is "basically unchanged," and 20.1% think their income has "decreased" [2] Group 2: Employment Perception - The employment perception index stands at 28.5%, down 1.8 percentage points from the last quarter [4] - 6.4% of residents view the employment situation as "good and easy," while 53.7% consider it "severe and difficult" or "uncertain" [4] Group 3: Price and Housing Price Expectations - The price expectation index for the next quarter is 56.4%, a decline of 0.7 percentage points from the previous quarter [6] - 20.3% of residents expect prices to "rise," while 60.1% anticipate them to remain "basically unchanged" [6] Group 4: Consumption, Savings, and Investment Willingness - 23.3% of residents are inclined towards "more consumption," a decrease of 0.5 percentage points from the last quarter [8] - 63.8% prefer "more savings," an increase of 1.5 percentage points, while 12.9% are inclined towards "more investment," down 1.1 percentage points [8] Group 5: Future Spending Plans - The top five areas where residents plan to increase spending in the next three months are tourism (32.1%), education (31.9%), healthcare (29.3%), social culture and entertainment (24.0%), and big-ticket items (21.1%) [13]