Related News
Forget bricks and mortar, take a chance
Print Edition
CHINA'S increasing number of affluent people still have faith in their traditional investments but it’s time to diversify and prepare for risks.
The China Rising Affluent Financial Well-Being Index, which tracks investment sentiment among people earning between 125,000 yuan (US$17,549) and 1 million yuan a year, was 65.96 this year — down 2.2 points from last year, according to the survey by US financial consultancy Charles Schwab in partnership with the Shanghai Advanced Institute of Finance under the Shanghai Jiao Tong University.
But in contrast with the main index, the confidence sub-index rose to 69.88 from 68.85 in 2018 and 68.1 in 2017, a record high. Conducted by Nielsen, the survey interviewed 3,800 people in 15 cities across China.
“The financial decisions of the rising affluent have a profound impact not only on their future, but also the future of China’s development,” said Wu Fei, a professor of SAIF.
The rising affluent still prefer traditional investments, with real estate continuing to grow as the asset of choice. Other financial products such as stocks and bonds declined.
The survey showed only 9 percent of respondents favored financial products this year, compared with 36 percent in 2018.
And there was an increase of eight points in the preference for real estate over financial products.
“The current investment pattern of the rising affluent is demonstrated by an increasing reliance on savings and real estate,” said Lisa Hunt, executive vice president of international services at Charles Schwab. “However, this approach may be tested by the changing macro-economic conditions.”
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
