1、2022年8月August 20222022 CHINA RISING AFFLUENTFINANCIAL WELL-BEING INDEX新富人群财富健康指数2022年中国0822-2KA91上海交通大学上海高级金融学院是上海市人民政府为实现将上海建设成为国际金融中心的国家战略、满足上海乃至全国金融业发展并与国际接轨的迫切需要，依托上海交通大学而创建的一所按照国际一流商学院模式办学的金融学院，英文名称为Shanghai Advanced Institute of Finance(SAIF)。学院以汇聚国际一流师资、培养高端金融人才、构筑开放研究平台、形成顶级政策智库作为自己的必达使命。关于上

2、海高级金融学院嘉信理财集团（纽交所代码：SCHW）是一家美国领先的金融服务机构。截至2022年6月30日，嘉信理财拥有逾360家分支机构，35200名员工，活跃交易账户数量达到3390万。其中，企业退休金账户230万个、银行账户170万个，资产管理规模达6.83万亿美元。嘉信理财致力于为个人投资者和独立投资顾问提供全方位的财富管理产品和服务。其在美国的主营业务包括：证券经纪、银行业务、资产管理、账户托管以及投资顾问服务等。嘉信华礴（上海）企业管理咨询有限公司是嘉信理财于上海注册成立的一家外商独资企业。以该公司为平台，嘉信理财计划在中国市场着力开展投资者教育，提升中国投资者的金融素养，增强其对科

3、学财富管理的参与度。关于嘉信理财和嘉信理财中国上海高级金融学院与嘉信理财简介2022年中国新富人群财富健康指数2022年中国新富人群财富健康指数前 言嘉信理财和上海交通大学上海高级金融学院很荣幸为您呈现第六期中国新富人群财富健康指数报告。这项年度调研始于2016年。六年来，我们双方秉承互利共信的宗旨，共同追踪记录中国新富人群这一对中国乃至全球经济发展具有重要推动意义的群体的投资行为变化，并探索如何更好地把握中国金融改革的历史机遇，持续提升该群体的财富健康。2022年的研究结果再度凸显了投资顾问服务可在新富人群实现财富梦想的过程中发挥重要作用。尽管新富投资者普遍对ESG、元宇宙、虚拟货币等新兴投

4、资类别展现出极大的热情和兴趣，但他们对这些标的的风险认知和投资行为尚不成熟，可见提升金融素养教育和专业投顾服务仍是财富管理领域未来的一大发展重心。可喜的是，历年数据均显示新富人群对投顾业务表示欢迎，对各类投顾服务的使用率也在持续提升。这无疑为财富管理行业打开了一扇机会之窗，促使金融机构进一步优化服务，与投资者建立互利共赢、值得信赖的合作关系。我们诚挚地希望此次指数调研能为中国金融服务业的发展提供参考，在助力新富人群追逐财富梦想的同时共同推动金融行业实现长足发展。2吴飞教授上海高级金融学院丽萨亨特国际市场董事总经理嘉信理财集团上海高级金融学院和嘉信理财共同创立的中国新富人群财富健康指数，基于对财

5、富信心、财务规划、资产管理及投资参与度这四个次指数的综合评估而得出，旨在动态追踪新富人群这一推动中国乃至全球未来经济发展的群体对于自身财富健康的认知和变化。指数介绍人民币12.5万至100万之间小于700万人民币（或约100万美金）4553人2022年4月23日至5月17日一线城市：2038人二线城市：1536人 三线城市：979人成都、杭州、大连、厦门、重庆、武汉上海、北京、广州、深圳南通、石家庄、中山、昆明、襄阳3年收入范围受访者人数和分布可投资资产调研日期2022年中国新富人群财富健康指数编制指标4对个人财务状况的满意度、对个人财务增长前景的预期、影响个人财务状况的因素*基于过去五年中国

6、新富人群财富健康指数的调研结果，上海高级金融学院、嘉信理财和尼尔森公司共同开展了第六年度的调研，并以此得出2022年度的结论。是否有正式的财务规划、是否定期审查财务规划、是否有清晰的时间规划、是否能在既定时间内实现目标是否有风险意识、是否有资产投资组合策略、是否对金融服务费用敏感，是否定期审查个人投资使用金融服务的多样性、对投资顾问的态度、对数字金融平台的态度财富信心财务规划资产管理投资参与2022年中国新富人群财富健康指数2022年中国新富人群财富健康指数2022年，中国新富人群的财富健康稳中向好。20020202120225投资参与资产管理45.2245.4945.5

7、648.3540.1239.21财务规划43.8043.06 43.3236.7641.5149.37财务信心74.3474.1871.2169.8868.8568.10财富健康指数72.2072.0269.7365.9666.0368.20*2017年和2018年的调研样本中不含三线城市的新富人群。79.56 79.2376.6371.3275.4171.312022年中国新富人群财富健康指数主要发现6新富人群对退休后的财务状况表示乐观，但缺乏财富管理行动予以支撑256房产投资热度持续减弱，但新富人群尚未找到可替代的投资方向3新富家庭成员财务需求多样，家庭财富管理决策还需兼听则明新投资者财富

8、信心和投资热情总体较高，专业金融服务和金融教育可为其夯实基础金融机构应积极提升新富人群对投顾业务的认知，帮助其优化财富管理实践金融素养较高的新富人群对投资热点的风险意识更强14发现一72022年中国新富人群财富健康指数新富家庭成员财务需求多样，家庭财富管理决策还需兼听则明家庭财务决策方式我负责家中所有的财务决策全家与投资顾问一起讨论决策所有家庭成员共同讨论做出决策另一位家庭成员负责家中所有的财务决策8按地域划分作为家中唯一财务决策者的受访者占比在各细分群体中基本持平逾七成家庭的财务问题由单人决策，这或许会导致其他家庭成员的财务需求被忽略66.8%男性67.2%总体67.9%女性东部68.4%南

9、部66.0%西部71.0%北部66.1%中部65.2%按性别划分*东部包括上海、杭州和南通；南部包括广州、厦门、深圳和中山；西部包括成都、重庆和昆明；北部包括北京、大连和石家庄；中部包括武汉和襄阳。2022年中国新富人群财富健康指数67.2%6.9%21.0%4.9%9女性投资者更愿意为子女教育问题做财务规划，而男性投资者更倾向于采取激进的投资策略。不同群体的财务目标和投资行为不尽相同，这些差异可能会使家庭财富管理走向不同的结果会为子女教育进行财务规划的新富人群占比采取激进投资策略的受访者占比44.0%55.1%男 性女 性19.5%13.6%男 性女 性2022年中国新富人群财富健康指数10

10、制定一份更具包容性的财务规划、与家人协商进行财务决策有助于克服理财盲区，让财富管理更好地兼顾每位成员的人生需求受房产政策影响会提早购房计划的受访者计划如何调整投资方案不同群体面对投资环境变化的反应各异。在表示因受房产政策影响而改变房产投资计划的受访者中，男性更倾向于将通过高风险投资来实现。男性女性男性女性59.9%64.1%23.0%33.1%29.2%10.9%12.9%我会配置更多高风险产品我会配置更多低风险产品我的投资策略不受影响受房产政策影响会推迟购房计划或抛售房产的受访者计划如何调整投资方案我会配置更多高风险产品我会配置更多低风险产品我的投资策略不受影响50.9%16.0%48.4%

11、13.4%38.2%2022年中国新富人群财富健康指数11因此，多与家人沟通可以帮助修正财务决策中潜在的片面性，让家庭财富管理取得更积极的成果。男性女性受教育政策影响的受访者计划如何调整财富管理策略28.5%29.1%37.4%21.5%21.5%23.6%5.8%7.9%15.1%9.6%教育成本会越来越高，我计划调整财务规划，确保未来有能力承担相应开销教育方面的财务压力降低了，我可以将部分资金用于其他领域的投资子女教育不再是我的核心财务目标教育政策对我的财富管理策略没有影响不清楚/不知道2022年中国新富人群财富健康指数而在受近年教育政策影响的新富人群中，男性更倾向于将原本用于子女教育的资

12、金投入到其他领域和用途中，而女性则仍会坚持为子女教育进行财务规划和财富管理，以确保未来有能力承担相应开支。12新富人群对退休后的财务状况表示乐观，但缺乏财富管理行动予以支撑发现二2022年中国新富人群财富健康指数在评估个人财务状况时会重点关注个人养老问题的受访者占比较去年降低了4.6%13无论此前做过多少相应的财务准备，新富人群对养老生活的担忧普遍减弱2022年中国新富人群财富健康指数26.9%2021202222.3%4.6%2022年中国新富人群财富健康指数超过半数受访者还未开始做养老相关的财务规划。其中，仅19.0%的受访者表示近期出台的个人养老金政策促使他们开始做养老规划。尽管这一政策

13、旨在鼓励居民以更多样的方式进行养老规划和储蓄，但新富人群的实际投资行为似乎尚未体现出这一趋势。14新富人群对养老规划的重视不足可能会为其长期财富健康带来隐患是否会受近期养老金政策的影响考虑开始做养老规划 是否拥有养老规划47.0%有53.0%没有19.0%是81.0%否15虽然部分新富人群意识到需要在财富管理上做出改变，但并未完全落实到实际行动中，这可能会削弱养老规划的有效性在养老金政策影响下采取了哪些行动当被问及自己受养老政策影响会采取哪些行动时，31.9%的受访者称会考虑单独设立一个养老储蓄账户，这是一项积极的举措。但也有近三成的新富投资者会选择以高风险投资获取更高回报，或是减少养老储蓄。

14、这些都有可能影响他们退休后的财务安全。2022年中国新富人群财富健康指数建议一个专门用于养老储蓄的账户选择更低风险的投资以获得稳定回报加大金融投资，为退休生活攒更多钱选择更高风险的投资来为退休生活攒更多钱减少养老储蓄，因为我相信政府会提供充足保障没有影响31.9%26.7%25.7%24.5%16.3%13.7%16房产投资热度持续减弱，但新富人群尚未找到可替代的投资方向发现三2022年中国新富人群财富健康指数4.6%17新富人群对房价的担忧连续五年呈下降趋势在评估自身财务状况时重点关注房价的受访者占比今年，仅18.4%的受访者关注房价对财务状况的影响，比上一年下降4.6%。可见新富人群的投资

15、偏好正逐步从房产市场转移至其他领域。200202021202237.2%30.6%29.7%24.8%23.0%18.4%2022年中国新富人群财富健康指数没有投资性房产的受访者占比从去年的6.5%上升至今年的14.1%。而在所有年龄群体中，持有1-2套投资性房产的新富人群比例均有所降低。拥有投资性房产数量022212061.0%59.1%6.5%14.1%31.3%25.8%这进一步体现在受访者对投资性房产的减持中2022年中国新富人群财富健康指数19金融服务行业应把握契机，推出更能契合新富人群投资需求的产品和服务相比金融投资

16、更青睐房产投资的受访者占比下降了9.8%，但更青睐金融投资的受访者占比却并没有随之上升。房地产与金融产品的投资偏好 相比金融产品，我更倾向于投资房产我对金融产品和房产投资没有明显偏好相比房产，我更倾向于投资金融产品不清楚/不知道2021202228.1%18.3%45.1%53.2%25.0%23.6%1.8%4.9%-9.8%+8.1%-1.4%+3.1%2022年中国新富人群财富健康指数金融素养较高的新富人群对投资热点的风险意识更强发现四202022年中国新富人群财富健康指数金融素养较高的受访者对ESG、虚拟货币、元宇宙三大投资热点的风险评估较为准确虚拟货币和元宇宙概念近年来受到市场的持续

17、关注，但这些投资产品的相关监管尚不成熟，且对经济社会的实际应用性有待进一步论证。因其与实体经济的关联性较弱，这类产品风险较高，净值波动性也更大。在金融素养较高的人群中，41.8%认同虚拟货币和其他传统金融产品相比风险更高。而在金融素养较低的人群中，高达46.0%认为其风险更低。虚拟货币的投资风险比一般金融产品更低和一般金融产品相同比一般金融产品更高不确定30.2%23.8%41.8%28.3%21.6%4.1%46.0%4.2%金融素养较高人群金融素养较低人群212022年中国新富人群财富健康指数2022年中国新富人群财富健康指数对于元宇宙概念，这两项数据分别为30.2%和42.8%19.7%

18、34.1%6.4%31.5%30.2%31.9%42.8%3.4%22元宇宙概念产品的投资风险比一般金融产品更低和一般金融产品相同比一般金融产品更高不确定金融素养较高人群金融素养较低人群23金融素养较高的新富人群对ESG概念产品的风险评估也较为中肯环境、社会和治理（ESG）近年来逐渐成为企业商业战略的有机组成部分。因此，基于这一概念的金融产品有实体经济和产业作为支撑，与传统金融产品的风险水平相对接近。在金融素养较高的人群中，51.0%认同这一观点。而在金融素养较低的人群中，高达43.3%的人认为ESG概念产品风险更低。2022年中国新富人群财富健康指数2.8%34.3%19.6%43.3%1.

19、1%32.7%51.0%15.2%金融素养较高人群金融素养较低人群ESG概念产品的投资风险比一般金融产品更低和一般金融产品相同比一般金融产品更高不确定24新投资者财富信心和投资热情总体较高，专业金融服务和金融教育可为其夯实基础发现五2022年中国新富人群财富健康指数近两年进入市场的投资者在面临市场波动时显现出高脆弱性252021-2022年（新投资者）2020年2015年-2019年2011年-2014年2011年之前26.9%的新投资者表示他们无法承受任何投资损失。这一数字在2020年开始投资的投资者中为6.7%，而在投资年限更长的投资者中不超过1.7%愿意承受的损失比例无法承受任何损失小于

20、10%10%-20%20%-30%30%-40%2022年中国新富人群财富健康指数26.9%34.5%6.7%26.9%1.7%25.4%20.7%1.4%1.1%27.6%29.1%38.3%42.1%39.9%45.5%6.2%21.7%24.8%27.2%15.9%2.5%6.4%4.5%8.7%6.4%而当被问及实现财务目标所需要的时间时，新投资者大多比投资年限较长的投资者给出的时间更短实现财务目标所需要的时间（年）结婚退休养老子女教育购买自住房产购买投资性房产为自己创业积累资金生养孩子大病医疗储备金资助孩子结婚或创业为失业等突发情况准备应急资金新投资者其他投资者3.93.05.54.

21、14.86.35.26.75.16.65.96.36.18.96.26.06.78.010.34.1262022年中国新富人群财富健康指数但他们对自己财富管理能力的满意度却比其他投资者更高对个人投资实践的满意程度首次开始投资的时间2021-2022（新投资者）2020年2015年-2019年2011年-2014年2011年之前满意非常满意22.9%69.5%11.8%53.3%18.8%47.5%22.6%50.9%19.1%60.5%272022年中国新富人群财富健康指数28专业投资顾问和金融教育或能为他们提供一定的指引新投资者在投资时倾向于参考一些非官方、非专业的信息渠道，这可能会导致他们

22、采取非理性的投资行为投资金融产品时参考的信息来源专业投资顾问专业金融服务机构/平台互联网金融平台上的直播股市基金评论员社交媒体账号报纸/杂志/电视或电台新闻家人/亲戚/朋友金融投资论坛48.4%43.8%45.1%43.3%36.7%31.6%35.6%30.2%36.8%27.3%22.7%16.4%29.0%26.9%26.2%50.5%2022年中国新富人群财富健康指数新投资者其他投资者29金融机构应积极提升新富人群对投顾业务的认知，帮助其优化财富管理实践发现六2022年中国新富人群财富健康指数新富投资者仍普遍将投资顾问视作一种金融产品，而非金融服务投资顾问服务的行业标准是基于管理资产总

23、额收取服务费用，无论盈亏。但在表示愿意为投资顾问付费的新富人群中，仍有29.9%的人认为应从投资产品收益中抽取佣金，而顾问服务本身应该免费。何种情况下愿意为投顾服务付费30即使是在愿意为服务本身付费的受访者中，仍有51.1%的人认为费用应按照投资收益情况决定。愿意以何种方式为投顾服务付费按服务时长付费按投资收益付费按管理总资产付费签订长期服务协议（如一年收取固定费用）51.1%7.9%13.6%27.4%投资有收益就付费，否则不付不管盈利还是亏损都要付费服务本身应该免费，但可以从投资产品从抽取佣金50.6%19.5%29.9%2022年中国新富人群财富健康指数31新富人群对投资顾问服务的理解和

24、诉求稍显片面只有45.6%的受访者希望投资顾问可以充分理解自己的财务需求，认为投资顾问应当了解自己的财务状况的受访者也仅占40.4%。这意味着新富人群仍未能准确理解投资顾问可以如何帮助其优化财富管理。2022年中国新富人群财富健康指数34.1%40.4%45.6%45.7%47.3%了解我的财务状况了解我的财务需求能获得我的信任能帮我制定基于目标的财务规划了解我的家庭状况2022年中国新富人群财富健康指数只有23.0%的受访者关心投资顾问是否会在为其提供财富管理建议前先聆听自己的想法和需求。事实上，这是投资顾问得以深入了解客户需求，从而为其量身定制财务规划和财富管理方案的重要基石。在选择专业投

25、资机构时会考虑哪些因素海外投资的能力更强提供更多国外市场的投资产品投资顾问是否有耐心听我说话提供定制化服务服务人员投资能力更高投资顾问是否愿意了解我的个人和家庭情况，包括财务现状和财务目标金融危机时更强的风险控制能力提供的投资产品更丰富能够提供更完善的投资计划投资产品的收益率更高投资产品的收益更稳定18.6%19.8%27.8%27.8%28.1%30.4%30.9%31.0%32.5%35.9%23.0%32新富投资者对投资服务的使用率总体有所提升，金融机构应把握契机，进一步优化投资者对投顾业务的认知，构筑以信任为基石的服务体系受访者对专业理财顾问、银行财富管理中心、智能投顾这三种涵盖投资顾

26、问的金融服务使用率均有提升，而对其他服务渠道的使用率则普遍下降。在使用过这些金融服务的受访者中，90.6%认为对自己有帮助。33手机银行APP专业理财顾问互联网金融平台基金公司APP银行财富管理中心基金公司官方网站银行网点股票投资分析软件银行官方微信或小程序智能投顾49.2%22.8%36.5%30.2%19.4%26.1%21.8%27.4%26.0%12.8%39.3%31.0%27.9%27.4%23.0%22.3%21.5%21.3%19.7%16.5%9.9%8.2%8.6%2.8%3.6%3.7%0.4%6.2%6.3%3.7%投资时选择的渠道20212022(vs.2021)对金

27、融平台/工具的评价很有帮助没有帮助有帮助51.3%39.3%9.4%2022年中国新富人群财富健康指数附录一 编制指标2022 新富人群财富健康指数:财富信心对个人财务状况的满意度个人财务状况的影响因素对个人财务增长的预期对个人财务状况影响因素的准备程度74.34+0.1634定期审查财务规划具有明确的时间规划财务规划具备财务规划在既定时间内实现财务目标的可能性43.80+0.74具有风险意识对管理费用的敏感度定期审查投资账户资产投资组合和策略资产管理45.22-0.27投资参与数字金融平台的贡献对投资顾问或机构的信任度使用金融服务的多样性投资顾问或机构的贡献度对数字金融平台的信任度79.56

28、+0.332022年中国新富人群财富健康指数财富健康指数财富信心财务规划资产管理投资参与3525-34岁75.44 47.82 45.0273.2980.4135-44岁73.04 45.70 45.1171.8278.4445岁及以上74.35 38.31 45.5872.0179.9118-24岁 73.58 28.64 45.9070.5878.76附录二 各年龄段新富人群的财富健康指数和次指数2022年中国新富人群财富健康指数二线城市三线城市一线城市3673.70 47.23 44.7672.0679.4374.10 41.61 45.8571.8179.1176.02 40.07 4

29、5.2173.1080.54财富健康指数财富信心财务规划资产管理投资参与附录三 各级别城市新富人群的财富健康指数和次指数2022年中国新富人群财富健康指数2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX37The Shanghai Advanced Institute of Finance(SAIF)was established at Shanghai Jiaotong University in 2009,with strategic and financial support from the Shanghai Municipal

30、 Government.As a member of Shanghais financial community,it strives to contribute to the development of Shanghai as a global financial center.SAIFs mission is to become a world class institution of research and advanced learning in finance and management.SAIF is committed to developing top talent an

31、d cutting-edge knowledge,with a focus on Chinese markets and their global connections.About SAIFThe Charles Schwab Corporation(“Charles Schwab”,NYSE:SCHW)is one of the United States leading providers of financial services,with more than 360 offices,35,200 employees,33.9 million active brokerage acco

32、unts,2.3 million corporate retirement plan participants,1.7 million banking accounts and USD 6.83 trillion in total client assets as of June 30,2022.Through its operating subsidiaries,Charles Schwab provides a full range of wealth management,securities brokerage,banking,asset management,custodial,an

33、d financial advisory services to individual investors and independent investment advisors in the United States.Charles Schwab(Shanghai)Enterprise Management Consulting,Ltd.,(“Charles Schwab China”)is a Wholly Foreign Owned Enterprise owned by The Charles Schwab Corporation.Through Charles Schwab Chi

34、na,the company will focus on providing investor education to support public financial literacy and engagement with modern wealth management.About CharlesSchwab&Co.,Inc.and CharlesSchwab ChinaAbout SAIF and Charles SchwabCharles Schwab and SAIF are proud to present the sixth annual edition of our Chi

35、na Rising Affluent Financial Well-Being Index.This partnership was founded on a mutual commitment to improving the financial well-being of Chinese investors,through a nuanced investigation into the concerns driving the rising affluent an important powerhouse of global economic development that can h

36、elp ensure their interests are at the heart of Chinas financial reforms.In 2022,our findings continue to underline the crucial importance that financial advisory has for the rising affluents ability to achieve their financial ambitions.While across the board investors demonstrate increased enthusias

37、m and openness to new forms of investment,their underlying frameworks for approaching these decisions show a need for a deeper engagement with financial education and professional advisory.Fortunately,their continued positive perception of the financial advisory industry and their increasing use of

38、different forms of advisory demonstrate the opportunity for the industry to form a powerful,mutually-beneficial partnership.We hope that the Index can serve as a solid foundation for the financial services industry as it seeks to tailor its services in a direction better able to support the rising a

39、ffluent,and empower their personal pursuit of financial freedom.Foreword2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX38WU FeiProfessorShanghai Advanced Institute of FinanceLisa Kidd HuntManaging Director,Head of International Charles Schwab&Co.,Inc.The China Rising Affluent Financial Well-Be

40、ing Index aims to track the shifting perceptions of the people who are driving Chinas economic future.Introduction to the IndexBetween CNY 125,000 1 millionLess than CNY 7 million(or equivalent to USD 1 million)4,553 peopleSurvey field dates:April 23 May 17,2022Tier 1:2,038Tier 2:1,536Tier 3:979Chen

41、gdu,Hangzhou,Dalian,Xiamen,Chongqing,WuhanShanghai,Beijing,Guangzhou,ShenzhenNantong,Shijiazhuang,Zhongshan,Kunming,Xiangyang2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX39Personal annual incomePeople and cities surveyedInvestable assetsSurvey field datesSub-indices2022 CHINA RISING AFFLUENT

42、 FINANCIAL WELL-BEING INDEX40Satisfaction towards personal financial status,sense of personal financial growth prospects,and sentiments towards financial concerns.*The 2022 Index is based on the sixth annual survey of this important powerhouse of both the Chinese and wider global economy.Having and

43、routinely reviewing a financial plan,setting timelines for financial goals,and beliefs regarding the possibility of achieving financial goals.Having a sense of risk,attitudes towards portfolio management,and sensitivity towards fees.Diversity of financial services used,engagement with professional f

44、inancial advisors,and sensibilities regarding digital financial advisory platforms.ConfidencePlanningManagementEngagementThe 2022 China Rising Affluent Financial Well-Being Index shows broad stabilityacross the four sub-indexes.*2017 and 2018 did not include data from Tier 3 cities.200202

45、02120222022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX41Engagement Sub-Index79.56 79.2376.6371.3275.4171.31Management Sub-Index45.2245.4945.5648.3540.1239.21Planning Sub-Index43.8043.06 43.3236.7641.5149.37Confidence Sub-Index74.3474.1871.2169.8868.8568.10Financial Well-Being Index72.2072.0269

46、.7365.9666.0368.20HeadlineObservations2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX42The rising affluent are optimistic about retirement,but this is not supported by their underlying actions2Increased professional engagement can translate newer investors enthusiasm and confidence into financ

47、ial success5More proactive communication around the benefits of financial advice could empower the rising affluent to achieve better financial outcomes6Interest in real estate has declined and the rising affluent are seeking other investment outlets3Financial advisory can help families overcome over

48、reliance on a single center for financial decision-making1Better financial literacy correlates with better ability to assess investment trends4Financial advisory can help families overcome overreliance on a single center for financial decision-makingKey Finding 12022 CHINA RISING AFFLUENT FINANCIAL

49、WELL-BEING INDEX43Role of family financial managementI make all the decisionsOur financial advisor works with together with my familyAll decisions are discussed by family members togetherAnother member of my family makes all decisions2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX44LocationThe

50、 percentage of respondents who reported being their familys sole decision maker is broadly consistent across all demographic groups.Over 70 percent of respondents indicate a single person oversees their familys finances,risking missed opportunities that could come through more diverse perspectives.E

51、ast includes Shanghai,Hangzhou,and Nantong;South includes Guangzhou,Xiamen,Shenzhen,and Zhongshan;West includes Chengdu,Chongqing,and Kunming;North includes Beijing,Dalian,and Shijiazhuang;Central includes Wuhan and Xiangyang.*66.8%Male67.2%Total67.9%FemaleEast68.4%South66.0%West71.0%North66.1%Centr

52、al65.2%Gender67.2%6.9%21.0%4.9%2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX45An important example of the demographic differences in respondent concerns and investment behaviors is womens reported higher levels of planning for their childrens educationwhile men reported they are more likely

53、to pursue an aggressive investment strategy.Demographic differences in their financial planning could create blind spots that cause significantly divergent outcomes.Have you made financial plans for your childrens future education?%of people who state they have an aggressive investment style 19.5%13

54、.6%44.0%55.1%MaleFemaleMaleFemale2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX46More inclusive financial planning could ensure that changes to their investment plans have more balanced outcomes.Changes by respondents purchasing property earlier than usualFor respondents changing their invest

55、ment plans in response to property sector reforms,male respondents were more likely to allocate money to high-risk investments.MaleFemaleMaleFemale59.9%64.1%23.0%33.1%29.2%10.9%12.9%I will purchase more high-risk productsI will purchase more low-risk productsNo impactChanges of respondents who will

56、postpone property purchasesor sell existing propertyWill purchase more high-risk productsWill purchase more low-risk productsNo impact50.9%16.0%48.4%13.4%38.2%2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX47And for respondents changing their investments in education in response to last years

57、reforms,men were more likely to allocate money to other areas,while women were more focused on adjusting plans to ensure education remains affordable.Ensuring that all points of view are heard before taking a financial decision could transform unseen biases into positive financial outcomes.MaleFemal

58、eChanges in response to education reforms among respondents who will adjust their financial plansEducation is more expensive,I will adjust my financial planto afford itReduced pressure to affordeducation has freed up fundsfor other investmentEducation isno longer a corefinancial goalNo impactDont kn

59、ow28.5%29.1%37.4%21.5%21.5%23.6%5.8%7.9%15.1%9.6%The rising affluent are optimistic about retirement,but this is not supported by their underlying actionsKey Finding 22022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX48The percentage of people who regard personal retirement as a current concern d

60、ecreased by 4.6 percent from last year.49Respondents,regardless of their current level of preparation,show signs of complacency around retirement.2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX26.9%2021202222.3%4.6%Over half of respondents have not yet begun planning for retirement.And just 19

61、.0 percent state that recent reforms enabling individuals to directly invest a portion of their pension contributions have motivated them to begin planning.While this policy is intended to ensure a more diverse approach to retirement planning,the rising affluent show limited signs of movement so far

62、.2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX50This decrease in concern is reflected in lagging retirement planning.Will you plan for retirement after being affected by related retirement policies?Have financial planning for retirement47.0%Yes53.0%No19.0%Yes81.0%No2022 CHINA RISING AFFLUENT

63、 FINANCIAL WELL-BEING INDEX51Even for those changing plans in response,their preparations may be insufficient.Proposed actions may decrease their ability to effectively plan for retirement.Retirement planning affected by related retirement policiesWhen asked how their retirement planning has been af

64、fected by recent retirement policies,31.9 percent respondents state they have established a separate account for retirement savings.This is a positive step.But nearly 30 percent respondents opt for higher-risk investments or withdrawing funds from retirement savings early,which may make retirement m

65、ore difficult.I will establish a separate account dedicated to retirement savingsI will opt for lower-risk investment to ensure stable returnsI will invest more for retirement savingsI will opt for higher-risk investments to make more money for retirementI will withdraw funds from retirement savings

66、 as i believe the government will provide sufficient benefitsNo impact31.9%26.7%25.7%24.5%16.3%13.7%Interest in real estate has declined and the rising affluent are seeking other investment outlets Key Finding 32022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX524.6%2022 CHINA RISING AFFLUENT FIN

67、ANCIAL WELL-BEING INDEX53Respondent concern regarding house prices has declined for five straight years.%of people for whom house prices are a current concernThis year,only 18.4 percent of people regard house prices as a current concern a decrease of 4.6 percent from 2021.This decreased concern sugg

68、ests respondents are shifting their investment attention away from real estate.200202021202237.2%30.6%29.7%24.8%23.0%18.4%The proportion of respondents with no properties besides their own home is 14.1 percent,up from 6.5 percent last year.The proportion who own one or two houses for inve

69、stment also decreased,with all age groups recording a similar decline.Number of properties owned2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX54202222021202212061.0%59.1%6.5%14.1%31.3%25.8%This shifting interest is underlined by the shrinking proportion of respondents who hold inve

70、stment properties.2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX55The financial services industry can develop new products to meet the changing demands of the rising affluent.Respondents who prefer real estate over financial products declined by 9.8 percent,with several reasons cited as makin

71、g it less interesting.However,this has not had led to a growing preference for financial products.Investment preference for real estate vs.financial products I prefer to invest in real estateover financial productsI have the same preference forfinancial products and real estate investmentI prefer to

72、 invest in financialproducts over real estateNot sure/Dont know2021202228.1%18.3%45.1%53.2%25.0%23.6%1.8%4.9%-9.8%+8.1%-1.4%+3.1%Better financial literacy correlates with better ability to assess investment trendsKey Finding 42022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX56Respondents with be

73、tter financial literacy had stronger assessments of the risk of new investments.This finding was consistent across three new investment trends.Digital currencies and the metaverse are increasingly popular investments,but remain unregulated and detached from strong economic fundamentals,with their us

74、e case and application in society so far unproven.41.8 percent of respondents with good financial literacy understood that digital currencies are high risk meaning have a higher chance of depreciating from the initial investment value-compared to other financial products.46.0 percent of respondents

75、with lower financial literacy believed that risk is actually lower.Risk awareness for digital currencyLess riskyHave similar risksMore riskyNot very sure30.2%23.8%41.8%28.3%21.6%4.1%46.0%4.2%Have financial literacyLack financial literacy2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX57For the

76、metaverse,the respective proportions for those who believe investment is lower risk are 30.2 percent and 42.8 percent.Lack financial literacy19.7%34.1%Have financial literacy6.4%31.5%30.2%31.9%42.8%3.4%Risk awareness for Metaverse2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX58Less riskyHave

77、similar risksMore riskyNot very sure2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX59Financially literate respondents had a more balanced understanding of ESG.Risk awareness for ESGESG products are based on real companies with strong businesses and fundamentals.Their risk should therefore be s

78、imilar to traditional financial products.51.0 percent of financially literate respondents understood that this is the case,compared to only 34.3 percent of their less financially counterparts.43.3 percent believed the risk is lower.1.1%32.7%51.0%15.2%Have financial literacy2.8%34.3%19.6%43.3%Lack fi

79、nancial literacyLess riskyHave similar risksMore riskyNot very sure2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX60Increased professional engagement can translate newer investors enthusiasm and confidence into financial successKey Finding 5Newer investors demonstrate higher levels of financia

80、l fragility.2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX612021-2022(New investor)20-2014Before 201126.9 percent of newer investors stated they cannot bear any financial loss compared to 6.7 percent of 2020 investors,and a maximum of 1.7 percent among other groups.Percentage l

81、oss that respondents are willing to accept in the value of purchased products26.9%34.5%6.7%26.9%1.7%25.4%20.7%1.4%1.1%27.6%29.1%38.3%42.1%39.9%45.5%6.2%21.7%24.8%27.2%15.9%2.5%6.4%4.5%8.7%6.4%Cannot bear any loss10%10%-20%20%-30%30%-40%But they also believe their financial goals will require fewer y

82、ears to achieve than their more experienced counterparts.Time to achieve all financial goals(number of years)MarriagepreparationPreparationfor retirementChildrenseducationReal estatefor livingReal estatefor investmentCapital toestablishown companyHavinga childCriticalillnessFor children toget marrie

83、d orestablish ownbusinessSufficient moneyfor possibleemergencies(such as unemploymentor big medical expenses)New investorsOther investors3.93.05.54.14.86.35.26.75.16.65.96.36.18.96.26.06.78.010.32022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX4.162.and are overconfident in their personal financ

84、ial practice.Levels of satisfaction with personal investment practiceFirst time investing2021-2022(New investor)20-2014Before 2011SatisfiedVery satisfied22.9%69.5%11.8%53.3%18.8%47.5%22.6%50.9%19.1%60.5%2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX632022 CHINA RISING AFFLUENT

85、FINANCIAL WELL-BEING INDEX64Increasing engagement with professional advisors could help address these issues.Newer investors are less likely to use professional advisors,suggesting an opportunity for the industry to bridge the gap between their enthusiasm and practice.Information sources for financi

86、al productsProfessionalfinancial managementconsultantFinancial managementcompany/financialmanagement platformLive broadcastson internetfinancial platformsStock/Mutual fundcommentatorSocialnetwork officialaccountNewspaperMagazine/TV News/RadioFamily/relatives/friendsProfessionalfinancial forumNew inv

87、estorsOther investors48.4%43.8%45.1%43.3%36.7%31.6%35.6%30.2%36.8%27.3%22.7%16.4%29.0%26.9%26.2%50.5%2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX65More proactive communication around the benefits of financial advice could empower the rising affluent to achieve better financial outcomesKey F

88、inding 6Respondents prefer to pay for advice based on commission contrasting with the industry standard.Among respondents who are willing to pay for financial advisory,29.9 percent believe that advisors should be paid based on commission with the advice itself free.This contrasts with the industry s

89、tandard of payment based on assets,regardless of gain or loss.Circumstances under whichrespondents would be willing topay for financial advice2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX66If paying for the advice itself,51.1 percent believe that payment should be based on the profit their a

90、dvice produces.Respondents preferred payment model for financial advice Pay by the hourPay by%of investment incomePay by%of total assets under managementPay by contract terms(e.g.,one-year service price as determined in the contract)51.1%7.9%27.4%Pay if it produces profits,free otherwisePay regardle

91、ss of profit or lossIt should be free,but commission fornot of financial products is acceptable50.6%19.5%29.9%13.6%2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX67Rising affluent preferences for their relationship with a financial advisor suggest they may not be taking advantage of their serv

92、ices.Just 45.6 percent believe their advisor should understand their needs.40.4 percent believe an advisor should understand their financial situation.34.1%40.4%45.6%45.7%47.3%Advisors understand my familys situationAdvisor is trustworthy Advisors understand my needsAdvisor is trustworthyAdvisors he

93、lp me planning for my goalsThe rising affluent seemingly misunderstand the benefits that using a financial adviser can bring.And just 23.0 percent care about their advisor listening to them before making investment decisions-suggesting serious detachment from the full process of financial advisory.F

94、actors respondents consider when choosing a financial advisorHas better ability to invest overseasCan provide more investment products from overseasThe advisor listens to meProvides a customized serviceService personnel have better investment abilityThe advisor spends time&listens to understand me l

95、ife situation/my family situationHelps to control risk in times of financial crisisCan provide a better selection of investment productsCan provide a better investment planTheir chosen investment products offer higher rate or returnInvestment products offer a stabler rate of return2022 CHINA RISING

96、AFFLUENT FINANCIAL WELL-BEING INDEX6818.6%19.8%27.8%27.8%28.1%30.4%30.9%31.0%32.5%35.9%23.0%Engagement with advisors is increasing.The financial advisory industry therefore has a clear opportunity to communicate benefits of professional financial advice,in partnership with investors.Usage of differe

97、nt types of advisory professional consultants,wealth management centers,and robo-advisors has increased,while usage of other investment channels has decreased.And 90.6 percent of respondents who have used advice report a positive impression.2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX69Mobi

98、le banking appProfessional financial management consultantInternet investment and financial platformsMutual fund company appWealth management centerMutual fund official websiteBank branch/counterStock investment analysis softwareWeChat bankingRobo advisors49.2%22.8%36.5%30.2%19.4%26.1%21.8%27.4%26.0

99、%12.8%39.3%31.0%27.9%27.4%23.0%22.3%21.5%21.3%19.7%16.5%9.9%8.2%8.6%2.8%3.6%3.7%0.4%6.2%6.3%3.7%Investment channels used20212022(vs.2021)Helpfulness of financial platform/tools in 2022Very helpfulNot helpfulHelpful51.3%39.3%9.4%Appendix I Factors comprising index score2022 Rising Affluent Financial

100、Well-Being Index Score:ConfidenceSatisfaction with personal financial statusDegree of financial impacts on the various concerned issuesFinancial preparation for various concerned issuesSentiments towards personal financial growth prospects74.34+0.162022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING IND

101、EX70Have a financial planReview financial planHave a specific timeline for financial goalsThe possibility of achieving the financial goalsPlanning43.80+0.74Have a sense of riskHave a precise portfolio management strategySensitivity towards investment management feesReview of return of investmentMana

102、gement45.22-0.27EngagementDiversity of accessed financial service Contribution of financial advisor/institutionCredibility of financial advisor/institutionContribution of financial digital platformsCredibility of financial digital platforms79.56+0.33Financial well-being indexConfidencePlanningManage

103、mentEngagementAppendix II Index and sub-index score by age group2022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX7125-34 Y.O.75.44 47.82 45.0273.2980.4135-44 Y.O.73.04 45.70 45.1171.8278.4445+Y.O.74.35 38.31 45.5872.0179.9118-24 Y.O.73.58 28.64 45.9070.5878.76Financial well-being indexConfidencePlanningManagementEngagementAppendix III Index and sub-index score by city tierTier 2Tier 3Tier 12022 CHINA RISING AFFLUENT FINANCIAL WELL-BEING INDEX7273.70 47.23 44.7672.0679.4374.10 41.61 45.8571.8179.1176.02 40.07 45.2173.1080.54