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The Chinese Change Way of Spending Due to High Oil and Food Prices: Survey

70 percent said they were investing in the stock markets

Chinese people have to change their way of spending due to the high fuel and food prices, an online survey reveals.

61 percent of surveyed consumers indicated the price increases had affected how they spend, while 52 percent said they had felt the effect of oil price rises.

The consumer price index, China's key inflation indicator, surged to a 12 year high of 8.7 percent in February, with food prices expanding by 23.3 percent year on year.

70 percent said they were investing in the stock markets, and over two-thirds said their spending was not influenced by the movement of share prices. Only 4 percent said they would cut spending if stock prices continued to fall.