(Hong Kong, November 15th, 2004) The Prudential Assurance Co. Ltd. ("Prudential") today announced the results of the second "PruHK Survey". On a 10-point scale, the "Future Clarity Index" for October showed a slight increase of 0.04 from 5.85 in July 2004 to 5.89. In addition, only 22% of respondents state that they have reservations in their future, a salient drop from 35% three months ago, further indicating that more Hong Kong people feel clear about their prospect.
Prudential appointed APCO Asia to conduct the first PruHK Survey in late July 2004 to gauge Hong Kong residents' perspective of their general living standard in the past, at present, and in the future. The survey gauged respondents' personal opinions as well as how they believe Hong Kong people would generally see such matters. The second survey was conducted in mid-October. Findings show that there was a slight increase of the "Future Clarity Index" in October when compared to the July Index and a salient drop to 22% for the percentage of respondents who stated an unclear future, indicating that respondents see more clearly into the future. The figure also suggests that some Hong Kong people still remain uncertain of their outlook.
"Prudential has been 'always listening' to the voice of Hong Kong people. Through the PruHK Quarterly Survey, we hope to understand and track changes in perspectives of Hong Kong people towards their future persistently in every quarter in order to be 'always understanding' their aspirations. The July Survey revealed that Hong Kong people are active, optimistic and embracive of future. Building on this finding, Prudential has conducted the second PruHK survey in October. We wish to feel the pulse of Hong Kong and the societal changes in a more direct and accurate way through this unique survey so that we can walk hand in hand with Hong Kong people to plan ahead for an ample life." said Mr. Ken Ng, Marketing Director of Prudential.
Prudential commissioned an interview of 500 Hong Kong residents over the age of 16 for this study. Respondents were asked to rate and predict their quality of life and affection towards their surroundings in 2003, 2004 and 2005. They were also asked about the changes of Hong Kong people in general as they saw in the same period. Respondents were asked to rate four statements, "Seeing the Future Very Clearly", "Feeling Very Satisfied with the Current Situation", "Love the Family Very Much" and "Love Hong Kong Very Much", from 0 (totally disagree) to 10 (totally agree). (Please refer to the appendix for the result figures of the survey)
Findings of the October survey indicated that the ratings of the "Clarity of the Future" and the "Satisfaction of Current Situation" are higher than those in July. The increment of the "Satisfaction of Current Situation" is more prominent, incurring a 0.4 increase from the July survey, a 6.7% growth which indicates that Hong Kong people are becoming more satisfied with their current situation. Respondents stated that the most influential factors affecting their clarity towards the future are the overall economic situation (46%), work (19%) and political situation (16%), underscoring the importance of the overall social situation over the individual concerns in affecting the views of Hong Kong people towards the future. The survey also revealed that the respondents' love and affection for family and Hong Kong is not affected by time or living conditions.
"As the macro-economic situation has improved in the third quarter, the unemployment rate becomes more static, and the Consumer Price Indices rebound, Hong Kong people are much more contented with their current situation than in the last quarter. We believe the sentiments of the overall consumer market will continue to improve as the economy recovers. While Hong Kong people are feeling more satisfied with their current status, they have not been much clearer towards the future. It signifies that respondents still have reservations for their future. Therefore, we believe that Hong Kong people will continue to adopt a prudential approach in various activities, including financial management and investment," said Ng.
Prudential PruHK October SurveyMajor findings:
The comparison of the findings between July and October 2004:
Prudential Corporation Asia
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