Optimize Residents'Asset Allocation and Support the Construction of Making China Strong through Financial Development
As an important part of the national economy,residents'asset allocation profoundly affects the financial system and is of great significance for finance to efficiently serve the real economy and reduce potential systemic risks.Theoretically,optimizing residents'asset allocation helps to promote the construction of making China strong through financial development by broadening residents'property income channels,stimulating demand through the wealth effect of assets,and preventing financial risks through asset diversification.In practice,since 2000,the growth rate of Chinese residents'assets has generally outperformed GDP and income.The propor-tion of real estate has declined marginally but is still the most important asset.Financial asset al-location is mainly risk-free assets,and residents'risk preference is still low.Compared with China,the household sector in the United States and Sweden has lower savings rates and higher equity asset allocation ratios,benefiting from wealth effect of the stock market,the large-scale entry of pension funds into the market,and the complete social security system.Japan's high savings rate and low equity asset allocation are due to the economic downturn caused by the downturn in real estate.Therefore,promoting the optimization of residents'asset allocation re-quires efforts in the following four aspects:promoting the entry of long-term funds into the mar-ket and enhancing the wealth effect of A-shares market;improving inclusive finance and enric-hing residents'financial product choices;stabilizing real estate market expectations;improving the level of social security and promoting residents'risk preference.
万方数据
维普
