“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

The Latest: Mnuchin cautiously optimistic on trade

Apr 21, 2018

WASHINGTON — The Latest on the global finance meetings in Washington (all times local): 1:10 p.m. The International Monetary Fund's policymaking committee says a strong world economy is threatened by increasing tension over trade and a heavy global debt load. Officials say longer-term global prospects are clouded by sluggish productivity growth and aging populations in wealthy countries. Policymakers say in a statement at the end of three days of meetings that countries should take advantage of the broadest-based expansion in a decade and enact reforms that will make their economies more efficient. And cutting government debts is urged. The IMF...

Mnuchin expresses optimism for resolution of trade fights

Apr 21, 2018

WASHINGTON — Treasury Secretary Steven Mnuchin expressed cautious optimism Saturday over efforts to resolve trade tensions that have rattled financial markets and clouded the global economic outlook. Mnuchin held a string of meetings over the past three days with financial officials from China, Japan and Europe over the punitive tariffs the administration has unveiled in an effort to fulfill President Donald Trump's campaign promise to reduce America's huge trade deficits. In a session with reporters, Mnuchin refused to say how close the United States was to resolving the various trade disputes but did indicate progress was being made in the...

AP FACT CHECK: Trump's shifting rationale for firing Comey

Apr 21, 2018

WASHINGTON — President Donald Trump offered a shifting rationale this past week for his firing of FBI Director James Comey and joined other Republicans in exaggerating how much simpler it will become for Americans to file their taxes next time. He also erred, though by just a hair, in claiming a historic achievement in black and Hispanic joblessness. A look behind recent statements on these matters and more: TRUMP: "Slippery James Comey, the worst FBI Director in history, was not fired because of the phony Russia investigation where, by the way, there was NO COLLUSION (except by the Dems)!" —...

Army lowers 2017 recruiting goal; more soldiers staying on

Apr 21, 2018

WASHINGTON — The U.S. Army will not meet its mission to recruit 80,000 active duty soldiers this year and has officially lowered that goal. But Army leaders said the service has been able to encourage more experienced service members to stay on the job to satisfy a growing demand for troops. Army Sgt. Maj. Daniel Dailey said Friday that the updated goal will be 76,500. Six months into the recruiting year, the service has brought in just 28,000 new soldiers. Dailey said the goal is to grow the Army to 483,500, as approved by Congress, and it's up to the...

Slumping tech companies weigh on US stocks

Apr 21, 2018

A steep slide in technology companies weighed on U.S. stocks Friday, pulling the market lower for the second day in a row. Losses among retailers, packaged food and beverage makers and other consumer goods companies also helped weigh down the market. Banks rose as bond yields continued to climb, reflecting increasing investor concerns of higher inflation in the wake of rising oil and other commodity prices. "Higher commodity prices, a little bit more inflation pressure and higher interest rates, that sort of takes some wind out of the sails for equity markets, at least short-term," said Edward Campbell, senior portfolio...

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