China PBOC urban depositors survey
China's PBOC urban depositors survey tracks quarterly income, employment and price expectations.
| Indicator | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | Q1-2023 | Q4-2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price expectation index | 57.1 | 57.1 | 56.4 | 57.1 | 59.8 | 60.9 | 58.1 | 56.1 | 59.2 | 59.1 | 57.7 | 58.6 | 62.8 | |
| Income sentiment index | 46.1 | 46.5 | 45 | 46.3 | 46 | 45.7 | 46.6 | 48 | 47.1 | 47.4 | 49.7 | 50.7 | 43.8 | |
| Income confidence index | 45.8 | 45.9 | 45 | 45.6 | 45.1 | 45.2 | 45.6 | 47 | 47 | 47.4 | 48.5 | 49.9 | 44.4 | |
| Employment sentiment index | 29.2 | 25.8 | 28.5 | 30.3 | 30 | 30.2 | 33.8 | 35.1 | 34.1 | 35.3 | 37.6 | 39.9 | 33.1 | |
| Employment expectation index | 42.2 | 42.1 | 41.7 | 43 | 41.5 | 41.3 | 43.4 | 45.2 | 45.1 | 46.1 | 48.7 | 52.3 | 43 |
Latest reading
The series on this page is quarterly and runs from Q4 2010 to Q4 2025. Source: People's Bank of China — Urban depositors survey report.
About this data
China's PBOC urban depositors survey tracks quarterly income, employment and price expectations. Compiled quarterly by the People's Bank of China across 50 cities since 2010, the release measures urban depositor sentiment and outlook. Available series comprise the price expectation index, income sentiment index, income confidence index, employment sentiment index and employment expectation index. All figures are diffusion indices in percent, where readings above 50% signal improvement and below 50% indicate deterioration.
Frequently asked questions
- What is the latest figure for China PBOC urban depositors survey?
- Income sentiment index stood at 46.1% in Q4 2025. That is −0.4 pp from Q3 2025 and +0.1 pp from a year earlier.
- How far back does the China PBOC urban depositors survey data go?
- The series on this page is quarterly and runs from Q4 2010 to Q4 2025. Source: People's Bank of China — Urban depositors survey report. Every series in the table can be charted over its full history and downloaded as CSV or Excel.
- What does the China PBOC urban depositors survey measure?
- The China PBOC urban depositors survey measures the economic perceptions and expectations of urban bank depositors across 50 Chinese cities. It tracks quarterly indices for price expectations, income sentiment, income confidence, employment sentiment, and employment expectations.
- How are the indices in the China urban depositors survey calculated and read?
- Indices in the China urban depositors survey are diffusion indices presented in percentage points. A value above 50% represents optimism or expected increases, whereas a reading below 50% indicates pessimism, contraction, or lower expectations among urban depositors.
- What is the difference between sentiment and expectation indices in the China urban depositors survey?
- In the China urban depositors survey, sentiment indices reflect urban households' evaluations of current conditions relative to the previous quarter, such as current income and employment sentiment. Expectation indices capture households' forward-looking projections for future income, employment, and prices in the upcoming quarter.
- What is the publication frequency and historical coverage of the China urban depositors survey?
- The People's Bank of China publishes the urban depositors survey on a quarterly schedule. The dataset on this page tracks all five quarterly diffusion indices continuously since 2010.