Shanghai wives hold the purse strings

Shanghai wives have more power in managing their family wealth, research has found.

Almost 42 percent of families in China have their assets managed by both husbands and wives. However, wives in Shanghai seem to have a stronger say in family finances.

More than 40 percent of families in Shanghai have their family wealth managed by wives, which is higher than the country's average of 38.4 percent, according to Horizon Research Consultancy Group.