Investors urged to diversify assets to lower risks

Research report finds only 5 percent of rich Chinese have assets overseas

Chinese individual investors should adopt a global approach and diversify investments to reduce their risk, a new report has advised after China's latest stocks turmoil.

Randolph B. Cohen, a senior lecturer at Harvard Business School, and CreditEase Corp, a peer-to-peer lending and wealth management company in Beijing, released a research report on Saturday that said more Chinese focus on saving money rather than spreading their assets, and have only short-term investment strategies for the stock market.