http://www.researchmoz.us/consumer-attitudes-towards-savings-china-january-2014-report.html The pressure to save money and improve financial status is still paramount for Chinese consumers. It is driven by both the desire to provide a comfortable long-term future, as well as the ability to meet the various big spending occasions associated with their life aspirations. This provides a major market opportunity for financial service providers to develop different savings and investment solutions to help consumers of all income levels to meet their savings goals.

1. Consumer Attitudes Towards Savings - China - January 2014
The pressure to save money and improve financial status is still paramount for Chinese consumers. It is driven by both the desire to provide a comfortable
long-term future, as well as the ability to meet the various big spending occasions associated with their life aspirations. This provides a major market opportunity
for financial service providers to develop different savings and investment solutions to help consumers of all income levels to meet their savings goals.
table Of Content
introduction
definition
report Structure
methodology
abbreviations
executive Summary
savings In China – The Backdrop
consumer Context
average Household Savings
figure 1: Monthly Household Savings, November 2013
figure 2: Monthly Household Savings, By Household Income, November 2013
ownership Of Savings And Investments
figure 3: Savings/investments Currently Have Or Plan To Have In Next 12 Months, November 2013
why People Save
figure 4: Reasons For Savings/investment, November 2013
ways To Achieve Savings Goals
figure 5: Ways To Achieve Savings Goals, November 2013
choosing Where To Bank
figure 6: Most Important Considerations When Choosing A Bank To Deposit Savings, November 2013
attitudes Towards Savings
key Issues
exploring Opportunities According To Different Customer Types
figure 7: Saving And Investing Target Groups, November 2013
the “leftover Treasure” Phenomenon Shows The Value Of An Underserved Market
how To Attract Consumers To Savings Products When Interest Rate Is Low
marketing Financial Products According To Different Saving Needs By City
what We Think
savings In China – The Backdrop
key Points
government And Corporate Savings Are Driving Growth In Gross Savings
figure 8: Gross Savings Rate (gross Saving As A % Of Gdp) In China, 1982-2012
figure 9: Share Of Government, Corporate And Household Savings In China 2000 Vs. 2007
overall, People Are Still Putting More Income Into Savings
figure 10: Savings Deposit Of Households And Income Level In China 2003-13
uneven Distribution Of Household Savings
figure 11: Distribution Of Household Savings In China, 2012
saving To Secure A More Comfortable Standard Of Living
figure 12: National Social Security Fund System In Urban China 2012
pressure To Save For Big Item Spending Is Paramount
figure 13: Comparison Of Average Large Item Spending, China Vs. Us, 2013
the Concern Over Not Getting Real Returns From Interest On Deposits Fuels Investment Activities
figure 14: Cpi And Interest Rate On Deposits, China, 2010-13
wealth Management Products Have Increased In Popularity
the Cash Squeeze In Summer 2013
the Consumer – Average Household Savings
Consumer Attitudes Towards Savings - China - January 2014

2. key Points
the Median Claimed Monthly Household Savings Is Rmb3,000 In Tier-one To Three Cities
figure 15: Monthly Household Savings, November 2013
between 33% And 48% Of Household Income Is Put Into Savings
figure 16: Monthly Household Savings, By Household Income, November 2013
who Are More Likely To Be High Savers?
figure 17: Percentages Of High Savers, By Demographics, November 2013
figure 18: Percentages Of High/mid/low Savers, By City, November 2013
the Consumer – Ownership Of Savings And Investments
key Points
protective Financial Products Come First In Current Ownership…
but Demand For Planned Investment Is Stronger
figure 19: Savings/investments Currently Have Or Plan To Have In Next 12 Months, November 2013
both High And Low Savers Prefer To Invest Money Saved Than To Keep It In Cash Deposits
figure 20: Plans To Buy Savings/investment Products, By Savings Level, November 2013
over Half Of Consumers Own At Least One Type Of Investment In Addition To Their Savings
figure 21: Number Of Different Of Savings/investment Products Currently Owned, November 2013
figure 22: Number Of Savings/investment Products Currently Own, By Age And Gender, November 2013
the Consumer – Why People Save
key Points
savings Goals Reflect Personal Effort To Protect Against The Unexpected
figure 23: Reasons For Savings/investment, November 2013
as People Get Older They Are More Likely To Save For Unexpected Events
figure 24: Selected Reasons For Savings/investment By Age, November 2013
couples Tend To Have More Savings Goals Than Singles
figure 25: Number Of Different Reasons For Savings/investment, By Demographics, November 2013
high-income Families Are More Likely To Save For Discretional Spending
figure 26: Selected Reasons For Savings/investment, By Household Income, November 2013
consumers From Tier-one Cities Are More Likely To Save For Retirement And Special Occasions
figure 27: Saving For Retirement And A Specific Occasion, By City Tier, November 2013
the Consumer – Ways To Achieve Savings Goals
key Points
consumers Prioritise Increasing Income First
figure 28: Ways To Achieve Savings Goals, November 2013
controlling Spending Is More Important For Achieving Short-term Savings Goals
interest In Financial Investments Is A Popular Action To Achieve Both Short- And Long-term Savings Goals
figure 29: Ways To Achieve Savings Goals Through Increasing Income, November 2013
spending Control Is More About Getting The Best Deal Than Cutting Corners
figure 30: Ways To Achieve Short-term Savings Goals, November 2013
people In Their 20s Are More Likely To Feel The Need To Cut Spending To Meet Short-term Goals
figure 31: Ways To Achieve Short-term Savings Goals, By Age Group, November 2013
families With Children Are More Discerning On Non-essential Spending
figure 32: Selected Ways To Achieve Short-term Savings Goals, By Presence Of Children In Household, November 2013
both High And Low Savers Feel The Need To Spend In A Smart Way
figure 33: Ways To Achieve Savings Goals, By Levels Of Monthly Savings, November 2013
the Consumer – Choosing Where To Bank
key Points
interest Rates And Location Convenience Are Top Two Considerations
figure 34: Most Important Considerations When Choosing A Bank To Deposit Savings With, November 2013
banks Need To Compete On Service And Investment Products To Attract High Savers
Consumer Attitudes Towards Savings - China - January 2014

3. figure 35: Selected Considerations When Choosing A Bank To Deposit Savings With, By Monthly Household Savings, November 2013
online And Mobile Banking Are More Important For Young Savers
figure 36: People Who Look For Convenient Methods To Manage Savings, By Gender And Age, November 2013
tier-two/three Consumers Are More Reliant On In-person Services
figure 37: Selected Considerations When Choosing A Bank To Deposit Savings With, By City Tiers, November 2013
the Consumer – Attitudes Towards Savings
key Points
rising Cost Of Living Makes People Eager To Invest Their Savings
figure 38: Attitudes Towards Rising Cost Of Living And Savings, November 2013
about 7 In 10 Admit That Saving Is Difficult Due To Rising Cost Of Living
the Majority See Investing As Better Than Keeping Money As Bank Deposits
consumers Are Keen On Innovations In Financial Services
figure 39: Attitudes Towards Innovations In Savings Services, November 2013
over 70% Think Financial Service Providers Like Yu’e Bao Are Worth Investing In
introducing Financial Products To Help Consumers Achieve Specific Savings Goals
figure 40: Agreement With Statement About Innovations In Savings Services, By Reasons To Save, November 2013
although People Are Keen To Save, Many Still Need Help To Address Gaps In Knowledge
figure 41: Attitudes Towards Gaps In Knowledge, November 2013
women Appear To Be More Goal-oriented Than Men
still About 25% Consumers Hesitate To Say That Interest Rates Are Easy To Follow
three In Five Find It Difficult To Understand Savings Products
figure 42: Agreement On Difficulty In Understanding Savings Products, By Age, November 2013
while Convenience Matters, Not Everyone Wants To Put All Eggs In One Basket
figure 43: Attitudes Towards Loyalty And Switching, November 2013
figure 44: Agreement On Moving Savings Between Banks, By Income And Savings Level, November 2013
key Issue – Exploring Opportunities According To Different Customer Types
key Points
psychographic And Demographic Profile Across Three Cluster Groups
figure 45: Savings And Investing Target Groups, November 2013
figure 46: Attitudes Towards Savings, By Target Groups, November 2013
knowledgeable Wealth Managers
affluent Consumers With A Wealth Management Mind-set
building Loyalty With One Bank May Be A Challenge
continuous Innovation, Integrated Service Platform And More Privileges
figure 47: Selected Considerations When Choosing A Bank To Deposit Savings, By Target Groups, November 2013
investment Enthusiasts
not Fully Understanding Savings Products Due To Lack Of Interest
figure 48: Savings/investments Currently Owned, By Target Groups, November 2013
eager To Grow Fortune In The Short Term
figure 49: Savings/investments Plan To Have In The Next 12 Months, By Investment Enthusiasts, November 2013
convenience Is A Driver
low Engagers
not So Interest Rate-chasing But More Concerned About Service Charges
figure 50: Selected Considerations When Choosing A Bank To Deposit Savings, By Target Groups, November 2013
waking Their Interest In Saving And Investing Could Open Up More Opportunities
figure 51: Ways To Achieve Savings Goals, By Target Groups, November 2013
figure 52: Monthly Household Savings, By Target Groups, November 2013
messages That Encourage Low Engagers To Overcome Inertia
what Does It Mean?
key Issue – The “leftover Treasure” Phenomenon Shows The Value Of An Underserved
market
key Points
yu’e Bao: Wealth Management Is For Everyone
one Million Users In Six Days
low Barrier To Entry, Flexibility And The Pleasure To See Growth Of Spare Money Everyday
figure 53: Yu’e Bao App Shows Users A Database Comparison On Earnings, 2014
Consumer Attitudes Towards Savings - China - January 2014

4. more Businesses Join The Race Of Internet Financing
how Does It Change Competition?
a Complementary Rather Than A Substitute Savings Solution
more Opportunities For Smaller Players To Compete
figure 54: Selected Types Of Payment And Investment Related Apps Used, December 2013
time To Turn To The Underserved Market
figure 55: Ownership Of Wealth Management Products, By Age And Income, November 2013
what Does It Mean?
key Issue – How To Attract Consumers To Savings Products When Interest Rates Are Low
key Points
challenge For Banks To Attract Savings
pros And Cons Of Wealth Management Products
marketing Savings Products In A More Customer-oriented Way
helping Low Engagers To Set Up Regular Savings Account Switching
encouraging Young Adults To Save More
building Their Thinking Over The Long Term
helping Them To Become More Independent
figure 56: Who Manages Household Finances, By Demographics, November 2013
financial Intelligence Education To Help Forge Rational Thinking About Wealth Management
china Lacks Financial Intelligence Education
long-term And Short-term Action Points
what Does It Mean?
key Issue – Marketing Financial Products According To Different Savings Needs By City
key Points
city-specific Solutions Help Optimise Resources And Efficiency
tier-one Cities
beijing Consumers: Sense Of Security Is Most Important
figure 57: Reasons For Saving/investing (“for Sense Of Security”), By Tier-one Cities, November 2013
guangzhou Consumers: Being Prepared For A Rainy Day
figure 58: Reasons For Saving/investing (“for Emergencies” And “for Retirement”), By Tier-one City, November 2013
shanghai Consumers: More Likely To Save For Luxury Spending
figure 59: Reasons For Saving/investing (“for Large Items”), By Tier-one City, November 2013
chengdu Consumers: Least Pressured To Save
figure 60: Reasons For Saving/investing, By Tier-one Cities, November 2013
tier-two/three Cities
north Vs South
figure 61: Reasons For Saving/investing (“for Sense Of Security”), By Tier-two/three Cities, November 2013
type Of Local Enterprises Matters
saving For Children’s Future More Important In Certain Lower-tier Cities
figure 62: Reasons For Saving/investing (“for Children”), By Tier-two/three Cities, November 2013
what Does It Mean?
appendix – The Consumer – Average Household Savings
figure 63: Monthly Household Savings, November 2013
figure 64: Monthly Household Savings, By Demographics, November 2013
figure 65: Monthly Household Savings, By Demographics, November 2013 (continued)
figure 66: Monthly Household Savings, By Demographics, November 2013 (continued)
appendix – The Consumer – Ownership Of Saving/investment Products
figure 67: Savings/investments Currently Have Or Plan To Have In Next 12 Months, November 2013
figure 68: Most Popular Savings/investments Currently Own, By Demographics, November 2013
figure 69: Most Popular Savings/investments Currently Own, By Demographics, November 2013 (continued)
figure 70: Most Popular Savings/investments Plan To Buy In The Next 12 Months, By Demographics, November 2013 (continued)
figure 71: Most Popular Savings/investments Plan To Buy In The Next 12 Months, By Demographics, November 2013 (continued)
Consumer Attitudes Towards Savings - China - January 2014

5. figure 72: Savings/investments Currently Have Or Plan To Have In Next 12 Months, By Monthly Household Savings, November 2013
figure 73: Savings/investments Currently Have Or Plan To Have In Next 12 Months, By Reasons For Saving/investing, November 2013
figure 74: Savings/investments Currently Have Or Plan To Have In Next 12 Months, By Reasons For Saving/investing, November 2013 (continued)
number Of Products Currently Owned
figure 75: Number Of Different Savings/investments Currently Owned, November 2013
appendix – The Consumer – Why People Save
figure 76: Reasons For Saving/investing, November 2013
figure 77: Most Popular Reasons For Saving/investing, By Demographics, November 2013
figure 78: Most Popular Reasons For Saving/investing, By Demographics, November 2013 (continued)
figure 79: Reasons For Saving/investing, By Monthly Household Savings, November 2013
number Of Reasons For Saving/investing
figure 80: Number Of Reasons For Saving/investing, November 2013
figure 81: Reasons For Saving/investing, By Repertoire Of Reasons For Saving/investing, November 2013
appendix – The Consumer – Ways To Achieve Savings Goals
figure 82: Ways To Achieve Savings Goals, November 2013
figure 83: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 1-2 Years, By Demographics, November 2013
figure 84: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 1-2 Years, By Demographics (continued), November 2013
figure 85: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 1-2 Years, By Demographics (continued), November 2013
figure 86: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 3 Or More Years, By Demographics, November 2013
figure 87: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 3 Or More Years, By Demographics, November 2013 (continued)
figure 88: Most Popular Ways To Achieve Savings Goals – Plan To Do In The Next 3 Or More Years, By Demographics, November 2013 (continued)
figure 89: Ways To Achieve Savings Goals, By Monthly Household Savings, November 2013
figure 90: Ways To Achieve Savings Goals, By Reasons For Saving/investing, November 2013
figure 91: Ways To Achieve Savings Goals, By Reasons For Saving/investing, November 2013 (continued)
appendix – Choosing Where To Bank
figure 92: Consideration Factors Of Choosing Banks, November 2013
figure 93: Most Popular Consideration Factors Of Choosing Banks, By Demographics, November 2013
figure 94: Most Popular Consideration Factors Of Choosing Banks, By Demographics, November 2013 (continued)
figure 95: Consideration Factors Of Choosing Banks, By Monthly Household Savings, November 2013
appendix – The Consumer – Attitudes Towards Savings
figure 96: Attitudes Towards Savings, November 2013
figure 97: Agreement With The Statement ‘china’s Rising Cost Of Living Has Made It Difficult To Save’, By Demographics, November
2013
figure 98: Agreement With The Statement ‘it’s Not Worth Saving With The Current Level Of Rising Cost Of Living’, By Demographics,
November 2013
figure 99: Agreement With The Statement ‘the Internet Has Made It Easier To Manage Personal Savings’, By Demographics, November 2013
figure 100: Agreement With The Statement ‘private Banks Offering Higher Returns Are Worth Investing In’, By Demographics, November 2013
figure 101: Agreement With The Statement ‘i Would Like To See A Variety Of Savings Products That Can Help To Achieve Specific Purposes’,
By Demographics, November 2013
figure 102: Agreement With The Statement ‘it Is Difficult To Understand Savings Products Available’, By Demographics, November 2013
figure 103: Agreement With The Statement ‘it’s Easy To Keep Updated With The Latest News On Interest Rate Changes’, By
Demographics, November 2013
figure 104: Agreement With The Statement ‘it Is Important To Have A Clear Savings Objective For Future’, By Demographics, November 2013
figure 105: Agreement With The Statement ‘making Wise Investment Is A Better Way To Seeing Your Fortune Growth Than Saving Money With A
Bank’, By Demographics, November 2013
figure 106: Agreement With The Statement ‘it’s Safer To Spread Savings Across Different Banks’, By Demographics, November 2013
figure 107: Agreement With The Statement ‘keeping All My Savings In One Bank Rather Than In Several Is More Convenient For Managing My
Finances’, By Demographics, November 2013
figure 108: Agreement With The Statement ‘it Is Worthwhile Moving Savings Between Banks To Get The Best Rates’, By Demographics,
November 2013
figure 109: Attitudes Towards Savings, By Monthly Household Savings, November 2013
appendix – Target Group Analysis
Consumer Attitudes Towards Savings - China - January 2014

6. figure 110: Savings And Investing Target Groups, November 2013
figure 111: Savings And Investing Target Groups, By Demographics, November 2013
figure 112: Monthly Household Savings, By Target Groups, November 2013
figure 113: Savings/investments Currently Have Or Plan To Have In Next 12 Months, By Target Groups, November 2013
figure 114: Reasons For Saving/investing, By Target Groups, November 2013
figure 115: Ways To Achieve Savings Goals, By Target Groups, November 2013
figure 116: Consideration Factors Of Choosing Banks, By Target Groups, November 2013
figure 117: Attitudes Towards Savings, By Target Groups, November 2013
appendix – Financial Responsibility
figure 118: Who Manages Household Finance, November 2013
figure 119: Who Manages Household Finance, By Demographics, November 2013
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Consumer Attitudes Towards Savings - China - January 2014