“2018 China Emerging Middle Class Wealth White Paper” release

Up Financial Service Collaborates with Forbes to Interpret the New Middle Class

Beijing, China - January 12, 2018 /PressReleaseAgency/ —

On January 10, an extraordinary press conference was held at the Conrad Beijing Hotel. Together with the leading technology finance companies in China, Forbes co-sponsored the "White Paper on the Emerging Middle Class Wealth 2018" (hereinafter referred to as the "White Paper"), in which from four aspects, namely the crowd appearance, wealth conditions, asset allocation and lifestyle, it reveals the wealth conditions, life style, inherent behavior and investment motivation of the emerging middle class so as to provide new ideas and reference directions for the inspection of wealth information of emerging middle class, and integrated financial services for emerging middle class wealth accumulation.

Mr. Yin Zhentao, deputy director of Law and Finance Research Institute of Institute of Finance, Chinese Academy of Social Sciences, Mr. Kang Jian, chief editor of Forbes China, Mr. Jinyuan Fu, founder and CEO of Up Financial Service, Mr. Chenglong and Zhuomo, cutting-edge economists, middle class spokesmen and writerGuo Cheng attended attended the conference and witnessed the official release of the "White Paper."

With the rapid development of Chinese economy and the rapid accumulation of household wealth, "middle class" group is growing, appears in the form of a new class and has become the backbone of the social structure of China today. In the "White Paper" co-published by Forbes and Up Financial Service, a comprehensive analysis of age, gender, educational level and occupation has been conducted and the emerging middle class has been interpreted as a new social group.

According to the "White Paper" report, the emerging middle class in China tend to be younger in general. They are mainly engaged in mental work. They mainly live on salaries and bonuses with a high degree of education and they have received specialized training. Thus intellectual capital has brought them more wealth and social status. Among them, the proportions of men and women are 54% and 46% respectively, and the 80s account for 78% and 80% respectively.

As mentioned in the "White Paper", wage and bonuses constitute the major source of emerging middle class income, followed by business operations and dividends. Emerging middle class have a higher enthusiasm for financial products and their wealth from financial products investment is more than that from real estate.

In response to this phenomenon, participants who attended the "White Paper" conference conducted in-depth analysis and discussion. Forbes China editor-in-chief Mr. Kang Jian has made an interpretation on the consumerism, behavior and life philosophy of the emerging middle class. He said: "there is a huge market potential for the emerging middle class and they represent a vibrant and evolving world in the future." Yuan Chenglong, founder and CEO of Up Financial Service, believes that "emerging middle class are an inevitable outcome of social and economic development, pregnant with enormous social energy and as the cornerstone of the" pyramid".

During the conference roundtable discussion, Yin Zhentao, deputy director of the Law and Finance Research Institute of the Institute of Finance of the Chinese Academy of Social Sciences, Wei Wei, partner and COO of Up Financial Service, Chenglong and Zhuomo, cutting-edge economists, middle class spokesmen and writer Guo Cheng joined as the four distinguished guests in the roundtable discussion. They also discussed the emerging wealth situation in the middle class. 

Contact Info:
Name: Media Relations
Organization: Up Financial

For more information, please visit https://www.xiangshang360.cn/xweb/index

Source: PressReleaseAgency

Release ID: 287051

More News From thebudgetreport.com

Netflix drops dud on Wall St. as subscriber growth flops

Jul 17, 2018

SAN FRANCISCO — Netflix is adding subscribers at a slower pace than envisioned, renewing fears that its growth may sputter as the video streaming service tries to fend off fiercer competition. The numbers released Monday mark a rare letdown for a company that has enthralled investors with its ability to consistently top expectations. But Netflix missed its target badly in the April-June period, causing its high-flying stock to plummet by about 14 percent to $345.63 in extended trading. The shares had more than doubled before the sell-off. If the stock plunges on the same trajectory during Tuesday's regular trading session,...

Stocks fall as crude oil prices drop 4 percent; banks climb

Jul 17, 2018

NEW YORK — Major U.S. indexes closed mostly lower Monday as investors bought banks but sold most other types of stocks, including health care and technology companies. Energy stocks sank along with oil prices. Oil prices fell more than 4 percent after U.S. officials suggested the U.S. will take a softer stance on countries that import oil from Iran after sanctions on Iran's energy sector go back into effect in November. Banks rose along with interest rates as well as a solid second-quarter report from Bank of America. A strong forecast gave Deutsche Bank its biggest gain in more than...

US challenges China, EU and others at WTO over steel tariffs

Jul 17, 2018

WASHINGTON — The Trump administration on Monday brought cases against China, the European Union, Canada, Mexico and Turkey at the World Trade Organization for retaliating against American tariffs on imported steel and aluminum. The United States has imposed tariffs of 25 percent on steel and 10 percent on aluminum on the grounds that the imported metals pose a threat to U.S. national security. China, the EU, Canada, Mexico and Turkey have counterpunched with taxes on more than $24 billion worth of U.S. exports. U.S. Trade Rep. Robert Lighthizer said their retaliation violates the rules of the Geneva-based WTO, which mediates...

Markets Right Now: Stocks end mostly lower on Wall Street

Jul 17, 2018

NEW YORK — The latest on developments in financial markets (all times local): 4 p.m. Stocks are closing mostly lower on Wall Street as a steep drop in oil prices delivered a blow to energy companies. Hess slumped 4 percent Monday. Health care and technology companies also fell. Adobe Systems gave up 1.5 percent. Tribune Media plunged 16.7 percent after the Federal Communications Commission said it had concerns about its deal to be acquired by Sinclair. Major banks rose sharply, led by a 4.3 percent surge in Bank of America after it reported strong results. The S&P 500 index fell...

US pledges $6 million in new aid for Venezuelan migrants

Jul 17, 2018

CUCUTA, Colombia — The United States is pledging an additional $6 million in aid to help Colombia respond to the massive influx of Venezuelans fleeing their country's economic and humanitarian crisis. United States Agency for International Development Administrator Mark Green made the announcement Monday during a trip to the border city of Cucuta. About half of the new aid will go toward food for Venezuelan migrants while the other half will help Colombia provide medical services to those fleeing. In total the U.S. has provided $56 million to humanitarian groups and Latin American nations receiving Venezuelan migrants since the beginning...

The Budget Report seeks to provide comprehensive coverage and analysis on the current economic, financial issues around the world. First hand finance and economic news all day, every day.

Contact us: sales@thebudgetreport.com