The Chinese Family Wealth Report issued by Economic Daily on April 28 shows that the per capita wealth of Chinese families reached 144,197 yuan in 2015.
Based on survey data from 12,000 families spanning 268 counties and 25 provinces, the report studies the scale and structure of Chinese families' wealth, regional differences, financial assets, housing, financial decision-making and retirement plans.
For urban-dwelling families in 2015, per capita wealth was 208,317 yuan; for rural-dwelling families it was 64,780 yuan. In addition to urban-rural differences, wealth also varied by region. The per capita wealth of eastern areas was the highest, followed next by central areas. Wealth in western areas was the lowest.
The report also analyzed the wealth structure of Chinese families. The net value of owned property is the most important part of most Chinese families' wealth, accounting for an average of 65.6 percent of per capita wealth.For urban and rural families, owned property respectively accounted for 67.6 percent and 57.6 percent.
Financial assets accounted for 16.5 percent of per capita wealth of all Chinese families, decreasing to 16 for specifically urban-dwelling families and increasing to 18.6 percent for rural-dwelling families.
Movable property and consumer goods are also important components of family wealth; however, there was no significant urban-rural difference in those measurements.
The primary reason that Chinese families maintain savings is "preparation for children's education," followed by "coping with emergencies and medical expenses," "old age savings," and "preparing to buy or furnish a house."
From these categories it appears that the main motivation for saving money is precautionary–to be prepared for events in the future.
