Wealth growth in wealthy mainland leads Asia-Pacific region, survey shows

Shanghai, December 8 (Xinhua) 70% of mainland Chinese respondents said their net assets had increased rapidly over the past six months, according to a survey of wealthy people in Asia and the Pacific, the largest share of all countries and regions in the region. The HSBC Asia Pacific Affluent survey was commissioned by HSBC in eight Asia-Pacific countries and regions, including Australia, India, Indonesia, Japan, Malaysia, Singapore, mainland China and Taiwan. The survey is conducted every six months.　　The first survey this year was conducted at the end of April and early May, and the second survey was conducted at the end of September and early October. The survey aims to understand and track the investment and consumption preferences and habits of affluent people in the Asia-Pacific region, as well as changes in the external economic environment.　　In mainland China, the survey aimed at individuals with a monthly income of more than 12,000 yuan or more than 500,000 yuan of current assets. In the survey, more than One-third (37% per cent) of mainland respondents said their net worth had risen by 10% in the past six months, with 18% per cent of the respondents saying their net asset growth was between 11% and 24%, and 12% per cent of their net assets by 25% to 50%. Say their wealth has risen by more than 50% over the past six months. Only 15% per cent said their wealth had not changed in the past six months.　　89% of mainland respondents said their wealth was derived from work.　　A survey of risk tolerance suggests that wealthy people in the mainland are cautious, with 69% saying they can accept moderate risks, while 11% say they can only accept capital-protected investment products and 20% are willing to accept higher investment risks. In addition, half of the respondents said they planned to increase their investment in the next 6 months, and 10% intended to reduce investment.　　And in including stocks, more than 70% per cent of the investment categories, including funds, bonds, insurance and structured products, said they planned to invest in the stock market, the highest proportion in the region, and only 3% per cent said they did not have any changes in investment over the next six months. Chiu Yi-jing, Director of personal financial management at HSBC Banking (China) Limited, said the wealth growth of the wealthy people in the mainland was leading other markets in the Asia-Pacific region, which was very encouraging. As China's economy continues to grow, so does the wealth of the wealthy, who are increasingly adept at safeguarding, managing, and adding to the wealth of new creations. This provides a strong incentive for financial institutions to provide a full range of wealth management planning and services.