“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

Birth of a new Ukrainian church brings fears of violence

Oct 22, 2018

KIEV, Ukraine — The rough-looking young men brought clubs and brass knuckles to the Pechersk Monastery in Kiev , one of Orthodox Christianity's most important pilgrimage sites, apparently seeking to disrupt worship. Police spread-eagled them against a wall decorated in faded centuries-old frescos of solemn saints, then hauled them away. On the other side of the dispute, at a small church in the center of Kiev, a dozen men organized round-the-clock guard duty, worried that nationalist radicals might make their third attempt in a year to seize the place of worship. The incidents a week ago underline the tensions in...

Cyprus airline Cobalt halts flights amid lack of investment

Oct 22, 2018

NICOSIA, Cyprus — Cyprus-based airline Cobalt Air suspended its operations indefinitely after failing to find new investors to keep it in flight, officials said Thursday. As stranded passengers scrambled to find alternate flights, Cyprus' government said it would compensate Cobalt Air ticketholders who end up with other carriers to get to and from the Mediterranean island. The Cypriot transport ministry said in a statement that passengers would be compensated for one-way, economy class tickets on other carriers up until Oct. 24. Cypriot travel agencies Orthodoxou Travel and Top Kinisis were authorized to book return flights. "We feel the need to...

'Malnourished' animals report prompts Albania zoo closure

Oct 22, 2018

MBROSTAR, Albania — A report claiming lions and other animals were left malnourished at a private zoo in Albania has prompted Albanian authorities to order the zoo's temporary closure. Environment Minister Blendi Klosi ordered the immediate inspection and removal of the animals from the Safari Zoo Park resort following a report in Britain's Daily Mail Tuesday with photos showing a lion with an eye infection and other apparently malnourished animals in iron cages. But Ardjan Koci, a conservation official, said a recent inspection found all animals at the zoo in Mbrostar, 100 kilometers (60 miles) south of the capital Tirana,...

Basking in the Tuscan Sun

Oct 22, 2018

CORTONA, Italy — After my breast cancer diagnosis and as I was going through what would be more than a year of treatments that included chemotherapy and radiation, I vowed I would return to Italy. Both sets of my grandparents emigrated from there, and I always turned to Italy as a source of comfort. At first, I wasn't sure what part of Italy I would travel. The last time I was there was in 1998. But when my sister and brother-in-law invited me for a one-week stay at a villa in Cortona in Tuscany, I knew my plans were set....

Instagram users get free sushi in Milan with proof of posts

Oct 22, 2018

MILAN — A Milan sushi bar has come up with a new electronic payment method that is based on a currency more valuable than cash in some quarters. "This Is Not A Sushi Bar" is offering free meals to people with 100,000 or more Instagram followers. In return, users of the social media service must present an Instagram post that includes a restaurant hashtag and a photo. Owner Matteo Pittarello said he hoped the offer would attract millennials as patrons and create "2.0 word-of-mouth that could make our brand strong and viral." Italian fashion blogger Clizia Incorvaia had a free...

Sign up now!

The Healthier Web delivers accurate and up-to-date health information through medical content and insights from experts. Feel the ‘ohm’ here in The Healthier Web.

Contact us: sales[at]thehealthierweb.com