“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

Cambodia makes 1st arrest on charges of insulting monarchy

May 22, 2018

PHNOM PENH, Cambodia — A Cambodian school director has become the first person to be arrested on charges of insulting the monarchy after posting comments on Facebook critical of the authoritarian government. The law protecting the monarchy was passed in February. Critics say it further erodes freedom of speech and political activities, already under stress from Prime Minister Hun Sen's government. Police said Khieng Navy was arrested in his home Saturday and could face five years in prison if convicted. He is accused of posting comments online that allegedly insulted King Norodom Sihamoni by suggesting he was behind the November...

New owner of Cambodian newspaper begins by firing editor

May 22, 2018

PHNOM PENH, Cambodia — The new owner of a newspaper considered the sole remaining independent media voice in Cambodia fired its editor on Monday for publishing a story about the publication's sale and the purchaser's alleged links to the government, adding to doubts it will continue to perform the watchdog function of a free press. The dismissal of Kay Kimsong, editor-in-chief of the English and Khmer-language editions of the Phnom Penh Post, was followed by the resignations in protest of at least four senior editorial personnel. The developments inside the newsroom were reported by several remaining staff members in near-real...

Bootleg liquor, not water, killed Cambodian villagers

May 22, 2018

PHNOM PENH, Cambodia — Fourteen villagers whose sudden deaths were thought to have been caused by polluted water actually died from drinking rice wine containing methanol, a Cambodian health official said Monday. Health Ministry spokesman Ly Sovann said 214 other people from the same area who had fallen ill were sickened by drinking water that was contaminated with human or animal waste or insecticide. Reports of the deaths and sicknesses that began last Thursday came from two villages in Kratie province in the northeast, and were originally assumed by officials to be a single incident. Rice wine is typically made...

Suspected water contamination kills 10 Cambodians; 120 ill

May 22, 2018

PHNOM PENH, Cambodia — Ten Cambodian villagers have died and 120 others have been sickened after drinking water suspected to be contaminated with insecticide, a health official said Sunday. The dead and sickened villagers exhibited the same symptoms including breathing problems, dizziness, vomiting and chest pains, said the head of the Kratie Provincial Health Department, Chhneang Sivutha. He said villagers began getting sick on Thursday. Health authorities have collected water and food samples from the two villages and are awaiting laboratory results. The deputy provincial police chief, Chhim Sokhim, suspected rainwater from nearby farms that use insecticide had come into...

Cambodia parties register as Hun Sen vows vote will go ahead

May 22, 2018

PHNOM PENH, Cambodia — Registration began Monday for political parties contesting Cambodia's upcoming general election, with Prime Minister Hun Sen dismissing calls for a boycott by opposition supporters whose party was dissolved by pro-government courts last year. Hun Sen said in a speech to school graduates on Monday that the July 29 election will proceed as planned and will not be obstructed by any individuals or groups. Sam Rainsy, the self-exiled leader of what was the opposition Cambodia National Rescue Party, reiterated his group's position that voters should not cast their ballots if his party is not allowed to contest...

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!