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Wage-earners keen on making financial management
www.chinanews.cn 2007-04-09 08:47:22
Chinanews, Beijing, Apr. 9 �C 2007 might be considered as an ��investment
year for the Chinese public.�� When most people used to queue for a
house, in 2007, they shift to banks and other places eager to buy funds,
stocks, finance management products or insurance products, the Legal
Evening News reported.
Recently, the Finance Research Institute under the State Development and
Reform Commission and the Beijing Liaowang Investment Consulting Co., Ltd
jointly issued the "Survey Report on Chinese Finance Management Products
Buyers in 2007". In order to make this report, the two institutions
issued 50,000 questionnaires and retrieved 2,217. The survey took 5
months to finish. It can be regarded as the most authoritative and most
comprehensive survey report on Chinese investors so far.
The report shows that in terms of age, 80% of finance product buyers are
people over the age of 30. The number of buyers who were born after the
1980s increase considerably, while people who are above the age of 60
also account for 10% of the total number of investors.
The report also shows that 85% of investors work in fields that are
unrelated with finance industry, while people who do work in financial
sector account for only 14.5% of the total buyers. This shows that
finance management has ��entered into a grassroots level��, according to
an expert from the Finance Research Institute under the State Development
and Reform Commission.
The report shows that most investors fall into a group whose annual
disposable family income is around 100,000 yuan. Wage-earners are the
main buyers of financial management products. Information shows that
people with a disposable income of less than 50,000 yuan and people with
a disposable family income of 50,000-100,000 yuan account for 31.6% and
39.4% of the total number of buyers, respectively, and people with a
family income of 100,000-200,000 yuan account for 18.3% of the buyers.
According to economists, this indicates that financial management
products have become popular products among the Chinese public, with
wage-earners being the main buyers group of these products.
When asked why they buy these products, 54% of the respondents say they
want to ��retain or increase the value of their assets��, 24% of the
people buy them for ��their pension plan��, and 10% of them buy them to
��meet their children��s educational expenses��. Also, a small portion of
people say they buy financial management products to pay for their
medical expenses, to buy a car or a house.
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