China ranked the first in terms of consumer sentiment in a survey conducted by global market research company Ipsos in January, largely surpassing the US score as the two countries widened gap in coronavirus control as well as economic recovery.

Experts expected China to further lead the world in 2021 in consumer sentiment as overseas countries need to focus attention on fighting the pandemic and would leave job of economic stimulation to 2022, but the gap between China and the US in consumption recovery might shorten after Biden, who shows inclination to embrace multilateralism, assumed office as the new US president.

China scored 74.1 in Ipsos' National Index, a gauge of consumer sentiment, in January 2021, up 1.5 points compared with December 2020 and 4.5 points compared with one year earlier. It was also the highest among all the 24 countries recorded, almost doubling the score of Mexico and France, while also generally higher than the US level of 50.2.

Based on the data, China is one of the seven countries that have a National Index higher than 50 in January, the others include Sweden, India, the US and Australia. Only China and Saudi Arabia avoided their National Index dropping below 50 points during the pandemic, nor at any time since the tracker's inception.

China is also one of the two countries, the other being Australia, that recorded a significantly higher National Index when compared to one year earlier.

The Ipsos' index is a vivid indicator of China's solid rebound in the consumption sector as it recovered from the worst of the coronavirus. In December, China's total volume of retail sales surged by 5.2 percent on a yearly basis, recording positive growth for six months in a row, official data showed. In the whole year of 2020, China's retail sales dropped by 3.9 percent on a yearly basis.

Hu Qimu, a senior researcher at the China Digital Economy Institute, said that China's consumption recovery was backed by the country's solid economic growth, which surpassed the country's growth target and strengthening employment market stability.

"Some of the consumption stimulus policies rolled out in late-2020, like in household electric alliances and cars, would be implemented and have effects seen in 2021," Hu told the Global Times. In general, he predicted that China's retail sector would surge by about 8-10 percent in 2021.

But he predicted that China's gap with the US in consumer sentiment might shorten as the pandemic situation improves and manufacturing recovers under Biden's presidency, as US is likely to resume multilateral cooperation again, including with China.

In general, the Ipsos data showed that confidence is recovering fast around the world as the new year begins, a positive sign after the world's commerce stagnated due to the pandemic. In January, the Ipsos Global Consumer Confidence Index stood at 43.4, up to its highest level since April 2020 and showing an uptick of nine-tenths of one point from last month. But the index was down 5.2 points from its pre-pandemic level of January 2020 and fell 3.2 points short of its 10-year historical average, the Ipsos data showed.

The Global Consumer Confidence Index is the average of 24 world markets' National Indices. It is based on a monthly survey of more than 17,500 adults under the age of 75 conducted on Ipsos' Global Advisor online platform.