On March 15th, the 2022 China Residents Financial Literacy Report (the Report) was released by SAIF and Charles Schwab (a top US financial services institution) at SAIF. The Report analyzed difficulties for Chinese residents’ financial literacy from six dimensions, and gave constructive suggestions on how to help Chinese residents’ future wealth prospects with better financial education.
Focusing on financial literacy, participants offered suggestions on how to improve the financial literacy of Chinese residents from the academic, industry, and regulatory perspectives — jointly combining Chinese practice and overseas advanced experience.
In the speech session, Guangshao Tu (Executive Director of SAIF Board) congratulated the release of the Report. He affirmed the importance and long-term significance of the study on financial literacy for Chinese residents.
Lisa Hunt (Managing Director of International Markets, Charles Schwab) expressed her gratitude for the years of cooperation between SAIF and Charles Schwab. She pointed out that the financial literacy is a core issue of long-term concern for Charles Schwab. She called on financial institutions to play a key role in providing high-quality financial education and improving overall financial literacy.
Professor Fei Wu pointed out that the current financial literacy of Chinese residents is unevenly distributed; basic financial knowledge, practical ability, and security awareness need to be improved upon. He also emphasized that efficient and universal financial literacy education is indispensable.
