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Report delves into family finances

(Global Times)

09:15, May 16, 2012

The first ever report investigating family finances in China, released by the Southwestern University of Finance and Economics on Sunday, fills in many research gaps, according to Zhang Jianhua, director of the People's Bank of China's research bureau.

"The report not only provides valuable supplementary information on family financing activities but also will serve as a useful reference for policy makers," said Zhang. Among the report's notable findings: the average urban family in China has 2.47 million yuan ($391,703) in assets, the top 10 percent of the country's most well-off families save 74.9 percent of their annual income, and 77 percent of families that invest in the stock market don't make a profit.


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