“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

More News From Daily Sprinter

SAfrica fast bowlers deliver 3-0 series sweep over Pakistan

Jan 20, 2019

JOHANNESBURG — South Africa's fast bowlers delivered another quick victory over Pakistan on Monday, a 107-run win early on the fourth day of the final test that sealed a 3-0 series whitewash. South Africa collected the seven wickets it needed before lunch at the Wanderers as the tourists crashed from 153-3 overnight to 273 all out and well short of their target of 381. The final nail for Pakistan — a run out — came just after midday as the lunch break was delayed with the home team on the verge of wrapping it up. That series-ending wicket, when Pakistan...

Pakistan fights back in attempt to avoid whitewash

Jan 20, 2019

JOHANNESBURG — Quinton de Kock made a free-flowing century at No. 7 and equaled his career-best score as South Africa turned the screw on Pakistan on Sunday by setting the tourists 381 to win the final test and avoid a series whitewash. Pakistan's batsmen responded with signs of the fight that's been missing for most of a one-sided series so far, reaching 153-3 at stumps on the third day of the fast-moving third test. That reduced the equation to 228 more runs needed with seven wickets in hand. Asad Shafiq was 48 not out off 47 balls and approaching the...

Wickets tumble at Wanderers, South Africa takes 212-run lead

Jan 20, 2019

JOHANNESBURG — South Africa led Pakistan by 212 runs with five wickets left as the third and final test accelerated toward a conclusion on Saturday after just two days' play at the Wanderers. South Africa was 135-5 in its second innings at stumps after 13 wickets fell on the second day in Johannesburg on a pitch offering fast bowlers on both teams plenty to work with. Twelve wickets fell on the first day. A result is almost certain now with South Africa chasing a 3-0 series whitewash and Pakistan, 2-0 down and with the series gone, hoping for something to...

South Africa collapses to 262, Pakistan 17-2 in 3rd test

Jan 20, 2019

JOHANNESBURG — South Africa lost seven wickets for 33 runs in a collapse and Pakistan's batsmen also struggled as the ball swung and seamed late on the first day of the final test at the Wanderers on Friday. South Africa was 154-2 and 229-3 before Pakistan's quick bowlers carved through the middle and lower order in the final session to bowl the home team out for 262 and give the tourists hope of avoiding a 3-0 series whitewash. Pakistan is 2-0 down and has already lost the three-match series but team changes and a helpful pitch seemed to invigorate its...

Elgar to captain South Africa in place of du Plessis

Jan 20, 2019

JOHANNESBURG — Dean Elgar will captain South Africa in the third and final test against Pakistan after regular skipper Faf du Plessis was given a one-match ban for over rate offenses. Elgar has captained South Africa before, against England at Lord's in 2017 when du Plessis returned home for the birth of his child. Du Plessis' absence from the lineup for the series-ender also makes it likely that 23-year-old batsman Zubayr Hamza will make his test debut for South Africa. South Africa won the first two tests to claim the series and is seeking a whitewash over Pakistan at the...

Sign up now!

Daily Sprinter delivers the cutting-edge content from game reports to viral videos for our audiences worldwide. Our passionate writers strive to deliver a unique approach to the hottest sports news.

Contact us: sales[at]dailysprinter.com