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Families hoping for better returns: HSBC

By Wang Xinyuan (Global Times)

10:46, September 10, 2012

The average investment assets of Chinese families in eight major cities reached 386,000 yuan ($60,848) in the year from September 2011, according to an HSBC survey released over the weekend, even though some of the respondents suffered losses from their investment portfolio.

The top five family investment assets are bank savings, stocks, investment funds, life insurance and bank wealth management products, according to an e-mail sent by HSBC to the Global Times Sunday.

The average Chinese family currently has investment assets that are worth nearly 80 percent of those of the average American family, which were at $77,300 in 2010.

About 64 percent of the respondent families have seen an increase in their wealth over the last year, while 23 percent suffered a loss. Of the families who suffered a loss, their major investments were in stocks and funds, according to HSBC's survey, which was conducted in eight major cities including Beijing, Shanghai, and Guangzhou, and targeted family decision makers aged 22 to 55.

"The majority of the families hope that their wealth can increase enough to offset the effect of inflation," Mao Danping, president of Shenzhen IPFP Wealth Management Institute, told the Global Times.

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