Prudential“PruHK Survey”Shows Over 30% Respondents Are Unclear About the Future

18/08/2004

(Hong Kong, 18 August 2004) The Prudential Assurance Co. Ltd. (“Prudential”) today announced the results of the first “PruHK Survey”. Findings show 35% of respondents is unclear about the future. The average “Future Clarity Index” is 5.85 using a 10-point scale, indicating Hong Kong people are not seeing the future clearly.

Prudential appointed APCO Asia to conduct the PruHK Survey in late July. The purpose of the survey is to gauge Hong Kong residents’ view of their attitudes in life and general living standard in the past, at the current moment, and in the future. The survey also gauged respondents’ personal opinions as well as how they believe Hong Kong people would generally see such matters. Findings show that the individual views and Hong Kong people’s collective views towards the clarity of the future are similar. Over 30% of the respondents are unclear about the future and 60% feel unsatisfied with the current situation.

“In accordance to our credo ‘Always Listening, Always understanding’, Prudential introduced the PruHK Survey to investigate Hong Kong people’s judgment of their future. We hope to engage a direct means to feel the pulse of society. We seek to partner with the people of Hong Kong to see the future more clearly and plan for an abundant life,” said Mr. Ken Ng, Marketing Director of Prudential.

Prudential interviewed 415 Hong Kong residents over the age of 16 for this survey. Respondents were asked to rate the changes of their own quality of life and attitudes towards life in 2003, 2004 and 2005. They were also asked to rate what they believe the changes of Hong Kong people as a whole would be in the same period of time. Respondents were asked to rate four statements, “Seeing the Future Very Clearly”, “Being Very Sensitive Towards Crises”, “Feeling Very Satisfied with the Current Situation” and “Being Very Active and Aggressive”, from 0 (totally disagree) to 10 (totally agree). The results are as follows:

  Personal Hong Kong People in General
2003 2004 2005 2003 2004 2005
...Seeing the Future Very Clearly 5.17 5.85 6.17 4.13 4.76 5.29
...Being Very Sensitive Towards Crises 6.11 6.21 6.58 5.94 6.07 6.49
...Feeling Very Satisfied with the Current Situation 5.44 6.00 6.39 3.39 4.34 4.96
...Being Very Active and Aggressive 6.25 6.62 7.14 6.70 6.96 7.29

Findings show that respondents are seeing their future more clearly and feeling more satisfied with their current situation in 2004, as compared to 2003. The increment of the ratings for “Clarity of the Future” and “Satisfaction of Current Situation” can be attributed to the better business environment in Hong Kong this year as compared to last year. The opening of the inbound Mainland tourism market, the amelioration in unemployment and inflation rates, and the rebounding trend of the consumer confidence had improved the sentiments of overall consumer market.

Even though the ratings for “Clarity of the Future” and “Satisfaction of Current Situation” have an upward trend, the exact ratings for those categories are considered low. Findings of the survey also show a positive correlation between “Clarity of the Future” and “Satisfaction of Current Situation”. This implies that if Hong Kong people can see the future more clearly, they will be inclined to be more satisfied with their current situation.

“Even though there are still uncertainties influencing the Hong Kong society and economy and the respondents generally claim that they cannot see the future very clearly, the results of the survey have shown that Hong Kong people are active and aggressive and are confident about themselves,” said Ng.

“As the economy improves, Hong Kong people can better control their future by setting mid-to longer-term goals. I believe in the future, Hong Kong people will adopt a more systematic financial management model, and slowly change from an opportunistic investment mode to a more directional investment approach. Prudential will also introduce more investment tools with attractive return, or mid- to long-term insurance products with flexible terms. As such we can better serve Hong Kong people, who are proactive and aggressive and wish to better control their future and be more prepared to handle the unexpected,” he added.