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Shanghai Residents Favor Treasury Bonds: Survey
Shanghai people have shown increasing interest in buying treasury bonds in the third quarter of the year, according to a survey by the Shanghai Branch of the People's Bank of China.
The survey shows that some 25.5 percent of the sampled people have bought treasury bonds, up 8 percent over the corresponding period last year. Most of the people choosing treasury bonds are retirees and professionals in the cultural and educational fields.
Bank savings remain the top choice in the financial asset packages of Shanghai people, with stocks and treasury bonds ranking second and third respectively.
Most of the people buying stocks are those working in foreign-funded enterprises.
Experts said that although returns of treasury bonds are lower than that of stocks, there is relatively low risk involved in purchasing bonds. Many people, especially those with low or middle incomes, will favor treasury bonds so as to avoid risks and expect higher returns than banking interest rates.
The survey also indicates that the average income of Shanghai citizens increased and people were confident in earning more money in the future.
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