Financial literacy of consumers in focus

BEIJING - Financial literacy has become a catchphrase in China after decades of reform and opening up, with the country's economy becoming increasingly complex.

"As China is building itself into a financial power, the financial literacy level of consumers is critical to the healthy development of the capital market," said Zhou Baoluo, chairman of Junior Achievement, or JA, China, a non-profit organization with 25 years of experience in financial literacy education in China.

"Although financial literacy has made much progress during the past decades, there is still a large gap when compared with developed countries," Zhou said.