Report on the change trend of China’s household wealth in the second quarter of 2021 From Southwest University of Finance and Economics

The following is the Report on the change trend of China’s household wealth in the second quarter of 2021 From Southwest University of Finance and Economics recommended by recordtrend.com. And this article belongs to the classification: Life data, research report.

The report found that, first, the survey in the second quarter showed that the total household wealth was basically the same as that in the previous quarter, and the household asset allocation tended to be balanced. Under the epidemic situation, the whole family prefers low-risk assets and has relatively low willingness to invest in high-risk assets. For example, the willingness to invest in funds is significantly higher than that in stocks. This behavior is not driven by expectations or income, and the group of additional investment funds is younger and more educated, so it may be a medium and long-term behavior. Families’ willingness to invest online has increased year by year. The epidemic has promoted the growth of demand for online financial management. Online financial management has an obvious inclusive nature.

Secondly, consumption liabilities and future expectations have an important impact on household daily consumption. Daily consumption is the main reason why families need credit. Household consumption liabilities increase and consumption also increases simultaneously. Consumer credit has a positive effect on consumption. Although the increase of household financial assets has also brought about the increase of consumption, household consumption is also greatly affected by the future expectation of the economy.

Finally, the audience of credit has obviously sunk, but the credit funds have not entered the stock market. During the epidemic period, the credit policy was moderately loose, and the proportion of difficulty in obtaining consumer loans in low-income families in the second quarter was lower than that in the first quarter, indicating that the credit audience group was sinking. In addition, the groups with increased or decreased liabilities are not willing to invest in stocks, indicating that credit funds do not flow into the stock market; Compared with stocks, people with increased liabilities are more willing to invest in fixed deposit or insurance assets.

In view of the above research conclusions, this report recommends:

1) Encourage the development of online financial services to meet the growing online investment and financial needs of Chinese families.

2) Pay attention to the positive role of consumer credit in consumption, and vigorously support the development of consumer credit, especially the digital consumer credit products closely combined with consumption scenarios.

3) We will encourage the expansion of inclusive credit services, improve the pertinence of credit policies, and continue to favor relatively sinking markets and vulnerable groups, especially in fourth and fifth tier cities and rural markets. We should give play to the ability of Internet institutions to reach and serve customers in the sinking market, and encourage financial institutions to cooperate with internet institutions.

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