Business / Macro

Private investment up by 13.3% in 2013

By Wang Zhuoqiong (China Daily) Updated: 2014-04-17 07:20

The total value of private Chinese invested capital reached 9.41 trillion yuan ($1.52 trillion) last year, an annual growth rate of 13.3 percent, a wealth management survey found.

The increase was primarily driven by deposits and cash as well as the rise of property values, according to the Chinese Mass Affluent Report 2014, published by Forbes China and CreditEase, a Beijing based wealth-management firm.

Private investment up by 13.3% in 2013

Private investment up by 13.3% in 2013

This is the annual report's second year. It focuses on Chinese middle-class wealth. The affluent were defined by personal investment capital, which ranged from 0.6 million yuan to 6 million yuan. Those funds include cash, stock, funds, bond, insurance and other financing products and property for investment.

There were 11.97 million Chinese bracketed as middle class at end-2013, and their number is expected to reach 14.01 million by end-2014, the report said. Those aged 30 to 50 accounted for 60 percent of the interviewees.

About 53.8 percent of this group has a bachelor's degree and nearly 10 percent hold master's degrees and above. Those interviewed worked mostly in the financial, trade and manufacturing industries.

The middle class's most popular investment products are banking products, real estate and stocks. About 41.7 percent of those surveyed have participated in Internet financing and investment.

The report found that happiness among the affluent rose, with 66.5 percent of those interviewed saying they are happier compared with a year before. Of those asked, 74.7 percent said they are stressed while 10.5 percent were coping with serious pressure and 23.3 percent said they felt none.

China's capital market performance in 2013 weakened middle-class sentiment to invest. About 86.4 percent have made a personal capital investment and only 81.3 percent of them plan to invest, down from 83.2 percent the year before.

Most middle-class Chinese own their own home; 15.5 percent have more than three properties.

About 57.9 percent surveyed said they have no loans while just more than one-in-five had paid off 75 percent of their mortgage.

Hot Topics

Editor's Picks