“Conservative” probably isn’t a word that would typically be used to describe millennials. However, it’s no surprise that they are careful with their money after the entire generation went through the bubble and subsequent burst of P2P economy and the crash of stock markets all over the world.

A report jointly released by Tencent’s platform for asset management Licaitong and a financial think tank indicated that nearly 90 percent of Chinese millennials profited through steady investment last year. 62.8 percent saw an average return ranging from 1 to 5 percent.

The main aim of most of the survey respondents was to generate wealth steadily. 12.6 percent wanted to achieve financial independence, the report said.

Many interviewees still described themselves as rookies, while only 0.8 percent believe that they have acquired the necessary skills to manage their money and invest, according to the report.

Postgraduate Yao Ruoyuan (a pseudonym), has put some thought into her investment. She has 10 apps for managing personal finance on her phone. After paying off her credit card debts, she will invest her remaining salary in these apps.

“The P2P products I bought have an annual yield of around 5 to 8 percent. I will not consider investing in those yielding higher than 10 percent,” she told China Business News.

China has 0.4 billion conservative millennial investors like Yao. Compared with previous generations, they are more educated and better at seizing opportunities as well as judging risks.

The report pointed out that 62.8 percent of the conservative millennial investors have their money managed by banks. 44.8 percent go to major internet platforms to deal with financial affairs.

The main reason behind the prudent investment among millennials is home ownership. About 70 percent consider real estate as the most important if they become financially stable, according to the report.

Compared with 66.4 percent of interviewees investing in property, only 18 percent said they prefer wealth investment products.

A report released by HSBC last year also indicated such motivation. It said that home ownership among Chinese millennials had reached up to 70 percent, 24 percent higher than that of Mexico and two times that of the US.

At the same time, the eagerness of the Chinese youth to own their own homes also tops the global ranking. Ninety-one percent of millennials plan to buy a house in the next five years.

After watching millennials plan to purchase property, the younger generation of Chinese citizens, born after the year 2000, have started to purchase pension products as elderly care gradually becomes more of an issue for Chinese citizens, said a big data report.

“We wish to reduce the uncertainties of the future,” said a mother surnamed Su, who has already bought pension products for her 8-year-old daughter in Shenzhen.