Consumer Attitudes Towards Savings - China - January 2014

Consumer Attitudes Towards Savings – China – January 2014

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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

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