Chinese consumers remain bullish in Q1

Chinese consumer confidence remained high in the first quarter despite the slowdown in the economy, according to a report by global consulting firm Nielsen on Tuesday.

The confidence index stood at 111 points, the same level as the previous quarter and three points higher than the same period last year. The global average stood at 96 in the first three months.

"Amid the economic slowdown, Chinese consumer fundamentals remain strong," said Yan Xuan, president of Nielsen Greater China.

China's ecnomic growth dipped to 7.4 percent in the first quarter, raising the risk that the country could miss its economic growth target of 7.5 percent for the first time in 15 years.

"Apart from the robust consumer confidence, the healthy growth of disposable income for both rural and urban residents, both on annual or quarterly basis, made it possible for a continuous growth of the overall retail sales in China," said Yan.