Shanghai children prove money smarts

Shanghai, the financial center of China, sure has raised some money-savvy children.

Ninety-two percent of Shanghai primary school students who took a recent test of their money smarts showed an understanding of financial management, and some even knew a thing or two about stocks and debts.

The FQ, or Financial Quotient, test was conducted on Wednesday at three primary schools. It was designed to measure the students' ability to handle money, their understanding of spending and saving, and their knowledge of family finances and investment.