“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

US criticizes Vietnam for jailing peaceful activists

Aug 19, 2018

HANOI, Vietnam — The United States said it was deeply concerned over Vietnam's conviction and sentencing of an activist this week, calling the trend of increased arrests and harsh sentences of government critics "troubling." A State Department statement Friday also called on the communist government to release all political prisoners and allow all individuals to express their views freely and assemble peacefully without fear of retribution. Le Dinh Luong was sentenced to 20 years in prison and five years' probation on Thursday after being convicted of attempting to overthrow the government. The State Department called the charge "vague" and urged...

Australian filmmaker goes on trial in Cambodia

Aug 19, 2018

PHNOM PENH, Cambodia — One of Australia's most famous movie directors testified Thursday in Cambodia at the trial of a filmmaking countryman facing a possible prison term of five to 10 years for flying a drone to capture images of an opposition political rally. Peter Weir, director of "The Year of Living Dangerously," ''Dead Poets Society" and "The Truman Show," testified as a character witness at the trial of James Ricketson, who was arrested in June 2017 and has been kept in detention since then. Ricketson, 69, was taken in an orange prison uniform to the Phnom Penh Municipal Court...

Vietnam finds activist guilty of anti-government charges

Aug 19, 2018

HANOI, Vietnam — A court in central Vietnam sentenced an activist to 20 years in prison Thursday after finding him guilty of attempting to overthrow the Communist government, his lawyer said, in a case decried by international rights groups. The court also sentenced Le Dinh Luong, 53, to five years of house arrest, said his lawyer Ha Huy Son. Son said Luong was convicted of encouraging others to join the Viet Tan group in exile in the United States. Vietnam brands the group a terrorist organization. "I think the sentence against Mr. Luong is too harsh," Son said after the...

Cambodia's ruling party swept seats, official results show

Aug 19, 2018

PHNOM PENH, Cambodia — Final results showed Cambodia's ruling party swept elections last month for the National Assembly, ensuring long-ruling Prime Minister Hun Sen another term but reinforcing skepticism of the vote's legitimacy. The National Election Committee confirmed Wednesday the Cambodian People's Party won all 125 seats in the National Assembly in the July 29 vote. The only credible opposition force, the Cambodia National Rescue Party, was disbanded last year by the courts, seen as aligned with Hun Sen, and the 19 parties that did compete in the vote were almost all vanity vehicles or meant to give the illusion...

Opposition says Cambodian election was death of democracy

Aug 19, 2018

PHNOM PENH, Cambodia — The ruling party of Cambodian Prime Minister Hun Sen congratulated itself Monday on its election victory, while the opposition party unable to contest the polls said they marked the death of democracy in the Southeast Asian country, making its government and any dealings with it illegitimate. Sok Eysan, the spokesman for Hun Sen's Cambodian People's Party, described Sunday's vote on a public message sent over the Telegram chat application as a "brilliant victory" and said the country would move forward "under the umbrella of peace and political stability." Although 20 parties contested the election, the only...

Sign up now!

About Us

VNReporter is built to serve the people of Vietnam exclusive reports that best reflect the happenings and achievements in the country. With the rise in the popularity in online news, readers now demand to read quality news in a more modern and easy to read format.

Contact us: sales[at]vnreporter.com

Subscribe Now!