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Chinese women likelier to control purse strings
By Feng Jianmin |
November 14, 2011, Monday
|
Online Edition
Online Edition
WOMEN on the Chinese mainland are likelier to take the lead in planning their family's finances than women from other Asian countries, an industry survey showed today.
About 63 percent of Chinese women, compared to 58 percent of men, say they make all or most of the financial decisions in the household, the highest among their Asian peers, the HSBC found in a survey.
This reverses the traditional gender gap that prevails across Asia, where 58 percent of women and 68 percent of men make the family's financial decisions.
For the survey, 17,000 people across 17 countries were interviewed, including more than 7,300 from Asia and 1,000 from the Chinese mainland.
"Our survey points to greater equality in financial decision making in Chinese families, with Chinese women taking more important roles in decision making around family finances," said Terry Lo, chief executive officer of HSBC Life China. "This is a result of rising education and income levels alongside accelerating urbanisation in the country."
But the survey also found that only 1 percent of women on the Chinese mainland claim expert financial savvy, lagging behind 5 percent for Chinese men, 4 percent for Asian women, and 7 percent for women globally.
About 63 percent of Chinese women, compared to 58 percent of men, say they make all or most of the financial decisions in the household, the highest among their Asian peers, the HSBC found in a survey.
This reverses the traditional gender gap that prevails across Asia, where 58 percent of women and 68 percent of men make the family's financial decisions.
For the survey, 17,000 people across 17 countries were interviewed, including more than 7,300 from Asia and 1,000 from the Chinese mainland.
"Our survey points to greater equality in financial decision making in Chinese families, with Chinese women taking more important roles in decision making around family finances," said Terry Lo, chief executive officer of HSBC Life China. "This is a result of rising education and income levels alongside accelerating urbanisation in the country."
But the survey also found that only 1 percent of women on the Chinese mainland claim expert financial savvy, lagging behind 5 percent for Chinese men, 4 percent for Asian women, and 7 percent for women globally.
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