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Females in charge of family financing in China

By Yu Ran (China Daily)

09:43, November 17, 2011

SHANGHAI - Compared with their counterparts overseas, Chinese women seem to have a bigger say in how the family money is spent.

Sixty-three percent of female respondents on the Chinese mainland said they were in charge of household financing, while only 58 percent of male respondents said so, according to a latest global survey by HSBC.

However, in other parts of the world, 65 percent of male respondents said they made the decisions on family finance, while only 53 percent of women said so, the survey showed.

HSBC's global survey on family financial planning and retirement, involving 17,000 interviewees and covering 17 countries and regions, was released earlier this week. It included more than 1,000 respondents from the Chinese mainland.

"Judging by the result, on a global scale, men are still playing important roles in household financing, although women seem to be playing more important roles in making financial decisions on the Chinese mainland, due to their enhanced education and career advancement," said Lao Jianrong, chief executive officer of HSBC Life Insurance Co Ltd.

Wang Xiejiao from Jiaxing, Zhejiang province, a 56-year-old retired housewife, makes sure that the family savings increase by 1 percent every year.

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