2
$\begingroup$

What are the household holdings of financial products in China?

It seems to be generally accepted that real estate is the most popular savings product for households in China and perhaps it is also true in the wealthy countries for median households. I am specifically interested in financial products; not direct ownership in real estate; not life insurance; not small business participation or sole proprietorship.

Specifically what would the pie chart look like for the aggregate of all households if the categories were... certificates of deposit for fixed rates, CDs for floating rates, active equity mutual funds, "passive" equity mutual funds, equity ETFs, bond mutual funds, bond ETFs, China's so called "wealth management products" sold by banks and non-bank institutions, local government bonds, China bonds, deferred annuities, equity in widely held corporations ("stocks"). What are the categories of "wealth management products" in the way of short duration, long duration, fixed income, with deposit insurance, without deposit insurance, corporate issuer, government issuer, equity. If these are not the appropriate categories then feel free to make the categories more appropriate.

$\endgroup$
2
+25
$\begingroup$

I do not think there is some dataset that has such an detailed breakdown that you want. However, one of the most widely used datasets on financial assets held by households are the various national surveys including the Survey of Chinese Consumer Finance and Investor Education (SCCFIE), China Household Finance Survey (CHFS), or Chinese Survey of Consumer Finance (CSCF). These datasets might not be directly freely avaiable but if you message the authors in the studies cited below they should provide them for replication purposes unless they happen to be confidential.

All three of the above are widely used in academic literature (just few examples include: Liao, Huang, & Yao (2010), Xie & Jin,(2015) or Chu, Wang, Xiao, & Zhang, (2017)).

These surveys are typically highly detailed but unfortunately won't have everything you cite you would like to see. For example, Liao, Huang, & Yao (2010) based on SCCFIE showed that the financial and non-financial assets were in 2008 distributed in China thusly:

enter image description here

enter image description here

enter image description here

$\endgroup$
2
  • $\begingroup$ I wonder what the M column is. The numbers look too small for it to be millions of yuan. $\endgroup$ – H2ONaCl Oct 17 '20 at 22:13
  • $\begingroup$ @H2ONaCl M stands for mean - it is average for the group represented in table. The amounts are in thousands. Also this is all on household level so that is an average across households. However, from your question you are interested in the shares of total for which this does not matter. I also updated link to the paper it seems there are 2 papers from same authors in same year before the reference was to the other paper by accident (sorry for that) $\endgroup$ – 1muflon1 Oct 17 '20 at 23:39

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.