On September 29, the Shanghai Advanced Institute of Finance (SAIF) hosted the 2023 Wealth Management Forum, along with the release of the "Report on China Residents' Investment and Financial Management Behaviors".
In his opening speech, SAIF Executive Director Guangshao Tu affirmed "the importance of residents' wealth management in the economic development from three dimensions: the relationship between residents' wealth management and the financial system, the relationship between wealth management and economic structure transformation, and the relationship between residents' wealth and the construction of a more balanced developed society." He noted that education, financial institutions and regulators should jointly enhance residents' financial literacy to improve wealth management behaviors, and looked to SAIF to spearhead relevant research and education.
The annual Report, published jointly by SAIF, Ant Group Research Institute and Ant Wealth Think Tank, analyzes Chinese retail investment activity. The 2023 edition shows a slight drop in financial management engagement, indicating a need to improve awareness around goal-setting and planning. It also documents a continued rise in use of long-term finance for pension supplementation.
Alongside the Report release, the Summit featured keynote speeches on salient wealth management topics from prominent academics and industry leaders. These collaborative efforts demonstrate SAIF’s commitment to research excellence and knowledge sharing to empower retail investors.
