“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 Action Swift

Ricciardo posts fastest time in 1st German GP practice run

Jul 20, 2018

HOCKENHEIM, Germany — Daniel Ricciardo was fractionally faster than Lewis Hamilton in the first practice session for the German Grand Prix on Friday. The Red Bull driver topped the charts by just .0004 seconds ahead of Hamilton's Mercedes. His pace may count for little, however, considering Ricciardo starts Sunday's race from last because of a grid penalty for engine-part changes. Red Bull's Max Verstappen was third quickest, about .2 seconds behind his teammate in hot sunshine at the Hockenheimring track. There is a second practice later Friday, and a third practice Saturday before qualifying. German driver Sebastian Vettel, who leads...

Mercedes gives Valtteri Bottas 1-year contract extension

Jul 20, 2018

HOCKENHEIM, Germany — Mercedes has given Formula One driver Valtteri Bottas only moderate backing by offering him a new one-year contract. Although Bottas has the option for an extra year in 2020, the Finnish driver will have to prove he deserves it with strong performances in 2019. Mercedes announced the deal on Friday, one day after Formula One champion Lewis Hamilton agreed a two-year contract until 2020. It ends mounting speculation over the short-term future of both of its drivers. The deals were announced at the German Grand Prix with the F1 season reaching its halfway point, and with the...

Hamilton thanks Mercedes for being patient over his new deal

Jul 20, 2018

HOCKENHEIM, Germany — Formula One champion Lewis Hamilton thanked Mercedes for indulging him as he finally signed a new contract, ending months of stalling and growing speculation over his future. With his previous contract set to expire at the end of this year, the four-time world champion penned a new agreement until 2020, when the current set of F1 regulations end. No figures were given, but the bumper deal is reportedly estimated at 40 million pounds ($52 million) per year. Talks began early this year with Toto Wolff, the team's head of motorsport. Hamilton negotiates his own deals and, by...

Vettel needs to keep pressure on Hamilton in Germany

Jul 20, 2018

HOCKENHEIM, Germany — Sebastian Vettel needs to keep the pressure on Lewis Hamilton at this weekend's German Grand Prix. At the midway point of the Formula One season — the 11th of 21 races — Vettel holds an eight-point lead over Hamilton. Vettel started strongly, then Hamilton took over, and now Vettel appears to be in the ascendancy again. While he leads Hamilton only 4-3 in wins this season, Vettel's most recent victory was particularly poignant because it was at Hamilton's home track at Silverstone, where the British driver has had huge success. Vettel's win heaped more misery on Hamilton,...

Auto industry cries foul as Trump moves toward car tariffs

Jul 20, 2018

WASHINGTON — Having started a trade war with China and enraged U.S. allies with steel tariffs, President Donald Trump is primed for his next fight. He is targeting a product at the heart of the American experience: cars. Trump's latest plan is to consider slapping tariffs on imported autos and auto parts — a move he says would aid American workers but that could inflate car prices, make U.S. manufacturers less competitive and draw retaliation from other nations. The action has also begun to provoke a backlash among member of Congress, who have so far been reluctant to challenge Trump...

Sign up now!

Action Swift is your fighting sports news site featuring boxing, fencing, martial arts, mixed martial arts and sumo. It’s time for some action!

Contact us: sales[at]actionswift.com