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HSBC survey shows people favor deposits
By Hu Xiaocen |
September 10, 2012, Monday
|
Online Edition
Online Edition
Chinese families favor bank deposits than investment in stocks and funds, while each household has current assets worth of 386,000 yuan (US$59,941) on average, according to a survey published by HSBC China today.
Among families being surveyed in eight major cities in China in terms of investment channels, 87 percent of respondents have bank deposits, 66 percent have stock investment, 60 percent buy funds, 46 percent have life insurance plans, and 40 percent buy wealth management products from banks, according to the survey.
The survey shows that 64 percent of the households achieved wealth growth in the past year, while 23 percent made losses. It's also noted that families that allocated a large amount of assets in stocks and funds in their portfolios experienced impairment of assets.
The top three investment objectives for Chinese households are capital increment, financial support for children's education and retirement planning, according to the survey.
More families plan to send their children to study abroad, which requires financial services including overseas bank accounts to be opened in advance and convenient telegraphic transfer of money, the survey said.
Among families being surveyed in eight major cities in China in terms of investment channels, 87 percent of respondents have bank deposits, 66 percent have stock investment, 60 percent buy funds, 46 percent have life insurance plans, and 40 percent buy wealth management products from banks, according to the survey.
The survey shows that 64 percent of the households achieved wealth growth in the past year, while 23 percent made losses. It's also noted that families that allocated a large amount of assets in stocks and funds in their portfolios experienced impairment of assets.
The top three investment objectives for Chinese households are capital increment, financial support for children's education and retirement planning, according to the survey.
More families plan to send their children to study abroad, which requires financial services including overseas bank accounts to be opened in advance and convenient telegraphic transfer of money, the survey said.
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