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China private investment up by 13.3% in 2013

Publication Date : 19-04-2014


The total value of private Chinese invested capital reached 9.41 trillion yuan (US$1.52 trillion) last year, an annual growth rate of 13.3 per cent, a wealth management survey found.

The increase was primarily driven by deposits and cash as well as the rise of property values, according to the Chinese Mass Affluent Report 2014, published by Forbes China and CreditEase, a Beijing based wealth-management firm.

This is the annual report's second year. It focuses on Chinese middle-class wealth. The affluent were defined by personal investment capital, which ranged from 0.6 million yuan to 6 million yuan. Those funds include cash, stock, funds, bond, insurance and other financing products and property for investment.

There were 11.97 million Chinese bracketed as middle class at end-2013, and their number is expected to reach 14.01 million by end-2014, the report said. Those aged 30 to 50 accounted for 60 per cent of the interviewees.

About 53.8 per cent of this group has a bachelor's degree and nearly 10 per cent hold master's degrees and above. Those interviewed worked mostly in the financial, trade and manufacturing industries.

The middle class's most popular investment products are banking products, real estate and stocks. About 41.7 per cent of those surveyed have participated in Internet financing and investment.

The report found that happiness among the affluent rose, with 66.5 per cent of those interviewed saying they are happier compared with a year before. Of those asked, 74.7 per cent said they are stressed while 10.5 per cent were coping with serious pressure and 23.3 per cent said they felt none.

China's capital market performance in 2013 weakened middle-class sentiment to invest.

About 86.4 per cent have made a personal capital investment and only 81.3 per cent of them plan to invest, down from 83.2 per cent the year before.

Most middle-class Chinese own their own home; 15.5 per cent have more than three properties.

About 57.9 per cent surveyed said they have no loans while just more than one-in-five had paid off 75 per cent of their mortgage.


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