“2018 China Emerging Middle Class Wealth White Paper” release

Up Financial Service Collaborates with Forbes to Interpret the New Middle Class

Beijing, China - January 12, 2018 /PressReleaseAgency/ —

On January 10, an extraordinary press conference was held at the Conrad Beijing Hotel. Together with the leading technology finance companies in China, Forbes co-sponsored the "White Paper on the Emerging Middle Class Wealth 2018" (hereinafter referred to as the "White Paper"), in which from four aspects, namely the crowd appearance, wealth conditions, asset allocation and lifestyle, it reveals the wealth conditions, life style, inherent behavior and investment motivation of the emerging middle class so as to provide new ideas and reference directions for the inspection of wealth information of emerging middle class, and integrated financial services for emerging middle class wealth accumulation.

Mr. Yin Zhentao, deputy director of Law and Finance Research Institute of Institute of Finance, Chinese Academy of Social Sciences, Mr. Kang Jian, chief editor of Forbes China, Mr. Jinyuan Fu, founder and CEO of Up Financial Service, Mr. Chenglong and Zhuomo, cutting-edge economists, middle class spokesmen and writerGuo Cheng attended attended the conference and witnessed the official release of the "White Paper."

With the rapid development of Chinese economy and the rapid accumulation of household wealth, "middle class" group is growing, appears in the form of a new class and has become the backbone of the social structure of China today. In the "White Paper" co-published by Forbes and Up Financial Service, a comprehensive analysis of age, gender, educational level and occupation has been conducted and the emerging middle class has been interpreted as a new social group.

According to the "White Paper" report, the emerging middle class in China tend to be younger in general. They are mainly engaged in mental work. They mainly live on salaries and bonuses with a high degree of education and they have received specialized training. Thus intellectual capital has brought them more wealth and social status. Among them, the proportions of men and women are 54% and 46% respectively, and the 80s account for 78% and 80% respectively.

As mentioned in the "White Paper", wage and bonuses constitute the major source of emerging middle class income, followed by business operations and dividends. Emerging middle class have a higher enthusiasm for financial products and their wealth from financial products investment is more than that from real estate.

In response to this phenomenon, participants who attended the "White Paper" conference conducted in-depth analysis and discussion. Forbes China editor-in-chief Mr. Kang Jian has made an interpretation on the consumerism, behavior and life philosophy of the emerging middle class. He said: "there is a huge market potential for the emerging middle class and they represent a vibrant and evolving world in the future." Yuan Chenglong, founder and CEO of Up Financial Service, believes that "emerging middle class are an inevitable outcome of social and economic development, pregnant with enormous social energy and as the cornerstone of the" pyramid".

During the conference roundtable discussion, Yin Zhentao, deputy director of the Law and Finance Research Institute of the Institute of Finance of the Chinese Academy of Social Sciences, Wei Wei, partner and COO of Up Financial Service, Chenglong and Zhuomo, cutting-edge economists, middle class spokesmen and writer Guo Cheng joined as the four distinguished guests in the roundtable discussion. They also discussed the emerging wealth situation in the middle class. 

Contact Info:
Name: Media Relations
Organization: Up Financial

For more information, please visit https://www.xiangshang360.cn/xweb/index

Source: PressReleaseAgency

Release ID: 287051

More News From Finance - Asia Logue

Thailand preparing total ban on import of electronic waste

Jun 22, 2018

BANGKOK — Thai authorities, who began a series of raids last month on factories accused of illegally importing and processing electronic waste, say they may use special powers given to the military government to impose a total ban on the import of such potentially toxic materials. Minister of Natural Resources and Environment Gen. Surasak Karnjanarat said Thursday that he will lead an effort to amend the law to include such a prohibition. He said if that proves impossible, the prime minister could invoke special powers he was given after the army seized power in 2014 to institute a ban. Electronic...

Malaysia to go ahead with skyscraper despite stolen funds

Jun 22, 2018

KUALA LUMPUR, Malaysia — Malaysia said Thursday it will not cancel a skyscraper project billed as the tallest in Southeast Asia, even though 3 billion ringgit ($747 million) from the venture has been misappropriated by the 1MDB state fund linked to former premier Najib Razak. Finance Minister Lim Guan Eng said Najib's government had since 2012 guaranteed borrowings, extended advances and purchased land from TRX City Sendirian Berhad amounting to nearly 3.7 billion ringgit ($921.4 million), but 3.067 billion ($764 million) of that was embezzled by 1MDB, mainly to repay its loans. The new revelation of embezzlement linked to 1MDB...

China says US swinging 'big stick' of unfair trade tactics

Jun 22, 2018

BEIJING — China on Thursday accused the United States of using bullying tactics and blackmail in threatening to impose tariffs on hundreds of billions of dollars of Chinese imports, ramping up criticism that the measures levied in the name of balancing trade would harm both countries' companies and the world economy. Commerce Ministry spokesman Gao Feng said the U.S. was damaging the global trading order and that its methods would harm its own business interests as well as those of trading partners. "We oppose the act of extreme pressure and blackmail by swinging the big stick of trade protectionism," Gao...

Divers search Indonesian lake for 192 missing after sinking

Jun 22, 2018

TIGARAS, Indonesia — Distraught relatives slammed Indonesia's government for not enforcing basic safety measures on passenger boats and pleaded Wednesday for a bigger search effort for more than 190 people presumed drowned after a ferry sank on a picturesque Sumatran lake early this week. The wooden vessel, overcrowded with passengers as well as dozens of motorbikes, didn't have a manifest and disaster officials have several times raised the number of people it was carrying as family members who rushed to Lake Toba in northern Sumatra provided information. The boat was five times over its passenger capacity of 43 and equipped...

Global stocks rise, unfazed by US-China tensions

Jun 22, 2018

SINGAPORE — Stock markets rose Wednesday as investors rallied around signs that the global economy was on track despite heated exchanges between the world's two largest economies over trade. KEEPING SCORE: Germany's DAX was up 0.1 percent to 12,692 and France's CAC 40 added 0.2 percent to 5,400. Britain's FTSE 100 gained 0.9 percent to 7,668. Wall Street was poised to open higher. Dow futures added 0.3 percent and the broader S&P 500's futures were up 0.2 percent. ASIA'S DAY: Japan's benchmark Nikkei 225 index rebounded 1.2 percent to close at 22,555.43 and South Korea's Kospi gained 1.0 percent to...

Sign up now!

Advertisement