Fund products are the top choice for financial investment among Chinese families with an annual income of over 200,000 yuan (US$32,600), followed by gold and stocks, according to a survey on economic life in China released by China Central Television (CCTV).
The survey showed that 30% of families surveyed responded to the poll saying they were interested in investing in fund products, while 27% wanted to invest in gold products and 24% wanted to invest in stocks.
Futures were the least popular investment product for Chinese families, with only 11% of respondents having invested in them.
Notably, the highest percentage of families, up to 32%, chose not to invest in any financial products.
The survey was conducted among 100,000 families in 300 counties and 104 cities across China. It was found that young people were more enthusiastic about financial investments than their elders, with the number of investors in the 18 to 25 age bracket being 6% higher than those aged over 60 years.
Respondents interested in investing in fund products were concentrated in a few regions, mainly in Shandong and Anhui, while those less interested in such products were spread across most cities. Investors in Henan and Jiangsu were the least interested in such products, according to the survey.
Respondents in Shandong who were interested in buying fund products were not planning start their own businesses, while those lacking interest in such products in Henan were enthusiastic about business start-ups.
Families in Anhui, Zhejiang and the northwestern region were more enthusiastic about gold products, while those in the southeastern region displayed little interest in such products.
Most respondents interested in investing in financial products resided in Anhui, Jilin and Shandong.
Respondents in most regions across the country, covering the central, eastern and southern parts, expected the housing market to continue its downward spiral.
Fifty-five percent of respondents surveyed in Tibet predicted that housing prices would rise in 2014, the highest percentage of the total, which was followed by 54.8% in Shanghai and 52.8% in Beijing, who made the same assumption.
The survey revealed that travel was the favorite expenditure among wealthy families, with an annual income of over 200,000 yuan, compared with buying home electronics, automobiles and luxury goods. A higher proportion of these families also wanted two or more children, compared with other families, according to the poll.
