Business school polls investors
Print Edition
FOUR out of 10 people described as “investors” in a poll by a local business school said they hold 45 percent of their assets — excluding property — in cash or cash equivalents.
The claim was made by the Shanghai Advanced Institute of Finance and Charles Schwab & Co, which together polled 450 people.
The respondents, from Shanghai, Beijing, Guangzhou and Hangzhou, said their annual income after tax was between 125,000 yuan (US$19,000) and 1 million yuan.
The poll found that 42 percent of respondents invested to improve their living standards, while 33 percent did so as a way to save for their retirement.
Twelve percent said they invested as a way to fund their children’s or grandchildren’s education, while 6.5 percent said they sought short-term gains.
“People want to make provision for themselves and their families now and in the future,” said Zhu Ning, the institute’s deputy dean.
“The rising costs of health care and education have put pressure on them.”
Respondents said they hold about 20 percent of their assets in stocks, though just 8 percent said they invest in overseas markets as the majority lack the know-how.
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