Mainland Women Wear the Family Finance Pants

An HSBC global survey report on family financial affairs released on Monday shows that 63 percent of the women, compared with 58 percent of the men surveyed on the Chinese mainland, decide how family finances are spent. The report implied, however, that men are still the main decision makers in family financial affairs in other countries and regions.

Results also showed that 76 per cent of interviewees had financial plans while 39 per cent of Chinese mainland interviewees aged between 30 and 49 had not taken out life insurance, and 35 per cent aged between 50 and 59 had no retirement plan.

Of women surveyed, 67 percent, as compared with 50 per cent of men around the world, choose relatively conservative investment strategies. On the Chinese mainland 49 percent of women and 38 percent of men chose conventional investment strategies.

CEO of HSBC Life Insurance Company Limited Lao Jianrong said that people aged between 30 and 49 shoulder more family responsibilities, such as children's education and supporting aging parents. From the point of view of investment risk, Lao said that most western families were conventional and prudent in protecting family property while Asian families were comparatively willing to expand family property through investment.

(Source:finance.ce.cn/Translated by womenofchina.cn)