Research On The Household Assets Allocation Of China’s Residents

In recent years, exploring the micro-economic foundation of macroeconomic operation has become the forefront topic of the contemporary economic theory research. As a micro-unit in social system, families own most of the social wealth, national income and consumer resources. It’s decision of consumption and investment constitutes a part of social overall behavior directly. Nowadays,the family’s financial management consciousness has strengthen and the category of the family financial product has become richer and richer. The capital market and the securities market develop gradually, bank financial products innovate constantly and the real estate industry become more perfect.In a word, the choice of family asset allocation has become increasingly diversified, enrichment and complicated.Therefore, how to allocate household assets reasonably and effectively and ensure the residents’ disposable income to maintain or increase is very important to promote the development of the social economic and financial institutions rapidly and orderly.The main purpose of this article is on the basis of present situation and development trend of the United States, the major countries of European and the Asian-Pacific region to have a system analysis on Chinese domestic assets allocation. This article mainly analyzes what reasons surely effect on allocating household assets between financial assets and non-financial assets and tries to find a proper structure of our country household asset allocation. This paper explores the main factors of influencing Chinese household financial assets,mainly from the individual life cycle, family income and education level. At the same time, through the micro-economic data,we can understand the impact of family financial assets structure on the wealth effect and have a deep analysis the promotion effects of the present financial market gains on the gini coefficient in the financial market of our country.Considering the pressure suffered from both financial market and non-financial market,this paper analyzes the huge impact ofthe real estate asset allocation on non-financial assets.Selecting of the assets data and the brief analysis of the representative countries such as the United States,European, Japan and South Korea,we find that the family assets allocation have a strong relation with the national economic strength, the social security system and the residents’ consumption habits. But in general,the richer the country and the residents have, the more reasonable of the family asset allocation structure is.Finally, based on the above research, combining our country residents current situation,we put forward the main conclusions and the policy recommendations.We consider that income level,education level and good professional has a positive effect on the participation degree of the risk capital markets such as stocks,funds, but life cycle has a quite different effect on it. Through the data analysis of the representative countries around the world about family assets allocation structure, family financial levels and the consumer credit construction levels, we can find that our household assets structure has its unique characteristics compared with the developed countries. This includes risk-free assets in financial assets and stock assets in risk investment share are overweight.As the real estate assets allocation is increasing year by year,the housing problem has become a very important problem related to the national economy and residents’ livelihood.In view of the above phenomenon, this paper puts forward the following Suggestions. In terms of macro-policy suggestions, our country should deepen the system reform, encourage financial innovation, enrich financial products and accelerate the reform of the real estate industry, state housing prices; In the aspects of family financial advice,we should reduce the bank deposit, invest more kinds of financial assets to prevent risks and invest real estate assets reasonably.