The Impact Of Demographic Structure On The Allocation Of Chinese Household Financial Assets

At present,as my country's fertility rate continues to decline,my country's population structure shows the characteristics of aging and declining birthrates.In the context of the continuing downward pressure on the global and Chinese economies,studying the influencing factors behind the financial asset al ocation behavior of the basic unit-households in economic activities can stimulate economic growth for the government,dig out customer markets for financial institutions,and subdivide financ ia l The market provides a theoretical basis for improving profits.Therefore,based on the predecessors,this article uses the China Household Financial Survey Data(CHFS2015)combined with my country's actual situation,from the perspective of population structure,using micro data to conduct empirical analysis to study the influencing factors related to household asset al ocation decisions.The dependent variable selected in this paper is whether there are risky financial assets and whether there are stock assets in the al ocation of household financial assets to study the participation of China's households in the financial market,and select the proportion of risky financial assets and stocks in the total household financial assets respectively.As a dependent variable to study the depth of Chinese households' participation in the financial market.Select family size,age of head of household,children's population and proportion of elderly population as explanatory variables,select gender of head of household,nature of work,education level,marital status,risk preference and health status,family income,whether there is self-employed business and whether own property,And rural and urban factors as control variables.The Probit model and Tobit model are used to analyze what factors influence household financial assets from the perspective of population structure.The article concludes with the following conclusion: "Life cycle effect" is significant in my country's household financial assets.Age and risk financial asset al ocation have an inverted U-shaped relationship,and the peak value appears around 53 years old.The larger the family size,the fewer households participate in the al ocation of risky financial assets.The reason is inseparable from the current miniaturization of family size in my country.The proportion of the elderly population will encourage households to invest in risk-type financial assets,and the proportion of children will inhibit their enthusiasm for participating in risk-based financial markets.Risk appetite,marital status,education level,family income,real estate,self-emplo yed business and urban-rural structure all have a significant impact on the al ocation of household financial assets.Women show a higher risk aversion preference.Health status is in the risk category for household financial assets The impact of the allocatio n of financial markets is obvious.The following recommendations are made based on the research structure.First,the government needs to improve the social security system,continue to promote preferential policies for childbirth,protect the rights of women and children,deepen the compulsory education system,introduce various policies that are conducive to the marriage of young people,and guide more young people to get married,In order to improve the population structure,delay the aging process of our society,and guide residents to form a correct concept of investment and financial management.Financia l institutions need to refine the financial market and develop financial products and services that meet the actual needs of customers according to the characteristics of our families.Resident families need to strive to improve their education level and establish the correct investment and financial management concepts.