The Impact Of Household Characteristics Changes On Household Financial Asset Allocation

As the developing the financial market in China,the study of Household Finance gradually referred to as a social hot spot and focus.In recent years,a number of important changes have taken place in our country family characteristics,family size quickly narrow,nuclear family gradually as the mainstay of families' type,also with the development of an ageing population,elderly family number also growing fast.At present,China's household number has reached 400 million,the first in the world.When such a large family household participate in the social and economic life,the change of its consumption,savings and assets choice behavior will affect the running of social economy,especially will have the important influence on financial market development.This paper brings research into focusing on household characteristics changes on the influence of family household financial asset allocation.On the one hand,through analyzing the changes of the status quo of the current our country household characteristics,we can grasp the trend of the development of the our country household characteristics and scale;On the other hand,analyzing the current situation of the development of the family financial assets in China,we try to measure the amount of household financial assets,in order to deeply study of its internal structure change.based on the data from “China Household Finance Survey,CHFS”,this paper analysis the characteristics of household changes,such as the level of household life cycle,household education,household size,household risk appetite,household consumption preference,household income and so on,on the influence of family household financial asset allocation.Finally,we come to the following three conclusions: first,the change of household miniaturization,and core development is the main characteristics of the household in the future for a long time.Household size miniaturization,change characteristics of the core is the long-term policy,attitudes,and together with the social culture.Second,the residents of bank deposits is still the main form of the current domestic household financial assets,but the proportion is declining year by year.The future family household financial assets will continue to grow,asset types will also increase gradually.Third,household characteristics change has a significant influence on family household financial asset allocation.Family household financial asset allocation is life cycle effect,the education level and risk appetite is also very significant influence on family financial asset allocation.Housing on the extrusion effect exist in family household financial asset allocation,household size is not directly influence on family household financial asset allocation,but we think huosehold size will affect the family household financial asset allocation by influencing the consumer choice,risk preference,and household income.At the end of the paper,we puts forward three suggestions,to improve the participation and enthusiasm of the family household in the financial markets which will promote the development of financial markets.First,deepen the reform of the financial markets and rich financial asset classes;Second,make full use of Internet technology to expand the scope of the financial markets;Third,improve the level of household income steadily and reduce financial assets risk coefficient.