Population Aging Affects The Structure Of Household Financial Assets

In2000, China has basically entered the aging stage, is one of the earliest countries enteredstages of population aging.Moreover, China’s aging population is huge, accounting for more than20%of the world’s aging population, the rapid development of aging is bound to affect thehousehold financial assets selection. In this context, this paper studies the following two questions:first, have mechanism analysis of aging effecting household financial assets selected, the contexttake financial awareness, risk appetite and investment horizon into the theoretical framework forthe first time; the second is the empirical research of the population aging affecting the structure ofhousehold financial assets.This paper’s methods are empirical research-based, as well as normative analysis. In thestandard analysis, based on the combination of macroeconomic data, analyze the status,characteristics and causes of China’s aging population and the structure of household financialassets. Subsequently, according to the author’ Ningbo questionnaire data, by means analysis andregression analysis and other modeling work, introduced the aging factor as a dummy variable tothe relevant theoretical models, this paper use truncated Tobit regression-type model, verify thetheory interpretation of aging effecting the structure of household financial assets.In this paper, the main conclusions and recommendations: first, the structure of householdfinancial assets shows a trend of diversification overall, but the proportion of household financialassets in risky assets has been low, household financial assets need to be further diversified. Second,the age factor has a significant effect on structure of household financial assets, although the totalhouseholds financial assets of older families are less than other age groups, the proportion of thestock in financial assets is higher than that of other people., it’s consist with older people’s financialawareness and investment period. Third, in the context of an aging population, we should improvethe structure of household financial assets need to establish a multi-pillar pension system, promptfinancial institutions change from sub-operation to mixed, develop financial products for olderpeople, improve the service quality of the capital market and carry out effective investor education.