“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

Latest News

Mandela: A life of soaring symbolism, now harnessed by UN

Sep 24, 2018

JOHANNESBURG — Nelson Mandela's South African journey from anti-apartheid leader to prisoner to president to global statesman — the "Long Walk to Freedom" of his autobiography title — is one of the 20th century's great stories of struggle, sacrifice and reconciliation. Now the United Nations is seeking to harness its soaring symbolism. The unveiling of a statue of Mandela, born 100 years ago, with arms outstretched at the U.N. building in New York on Monday opens a peace summit at the General Assembly, where world leaders will once again address the planet's pressing problems: war, poverty, disease, migration and climate...

China hikes tariffs on US imports as trade row intensifies

Sep 24, 2018

BEIJING — China raised tariffs Monday on thousands of U.S. goods in an escalation of its fight with President Donald Trump over technology policy and accused Washington of bullying Beijing and damaging the global economy. The General Administration of Customs said it started collecting additional taxes of 5 and 10 percent on $60 billion of goods at noon. That coincided with the time for Trump's planned tariff hike on $200 billion of Chinese imports to take effect, but there was no immediate U.S. government confirmation it was collecting the higher charges. The two governments imposed 25 percent penalty taxes on...

Iran's politicians under pressure, 40 years after revolution

Sep 24, 2018

TEHRAN, Iran — Hard-liners batter President Hassan Rouhani over his faltering nuclear deal, sending his popularity plummeting. Women in the streets film themselves removing their mandatory headscarves, or hijabs, in protest. Meanwhile, state television airs moments from a major corruption trial. Welcome to the topsy-turvy world of Iranian politics. Ahead of the 40th anniversary of Iran's Islamic Revolution, the country's government is allowing more criticism to bubble up to the surface. Analysts say that may serve as a relief valve in this nation of 80 million people, which already has seen widespread, leaderless protests rock the country at the start...

AP FACT CHECK: Trump wrong on judges, 'plummeting' poverty

Sep 24, 2018

WASHINGTON — As the midterm elections draw near, President Donald Trump's tendency to declare his campaign promises fulfilled when they aren't has come into starker relief. He insists poverty in the U.S. is "plummeting," even though the number of poor people has barely declined under his watch and income inequality is climbing. Jousting with Democrats in advance of the November midterms, Trump also declares a premature victory from his tariffs by pointing to a manufacturing renaissance that has yet to be and boasts of promises kept on "full" funding for improvements at the Department of Veterans Affairs. In fact, long-term...

Asian shares fall on reports China-US trade talks put off

Sep 24, 2018

BANGKOK — Shares have fallen in Asia after China reportedly rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology. The slow start to the week followed a mixed close Friday on Wall Street, where an afternoon sell-off erased modest gains for the S&P 500 that had the benchmark index on track to eke out its own record high for much of the day. KEEPING SCORE: Hong Kong's Hang Seng index fell 1.3 percent to 27,603.08 and Australia's S&P ASX 200 was flat at 6,192.80. India's Sensex gave up 0.4 percent to 36,681.91. Shares...

Search

Obserworld delivers the most accurate and up-to-date world news for the global audience with a thorough research and in-depth interviews. Discover the world through Obserworld.

Contact us: sales[at]obserworld.com