A Study On Regional Differences In The Allocation Of Family Financial Assets

With the development of our country's economy,the level of income and wealth continues to increase.The economic activities of residents on financial market are one of the important components of the financial system.According to the China household wealth survey,the holding of household financial assets is still mainly cash and savings,and household new investment is almost all savings.For most Chinese households,the combination of household financial assets is less risky and the allocation of risky financial assets is insufficient,so that assets can not be preserved and appreciated at the household level.At the same time,there are obvious characteristics of the vast areas and regions in our country.There are differences between regions in the level of economic development,the degree of openness,and the humanistic environment.There are also imbalances in the development of family finance between regions.The 2017 China Household Wealth Survey shows that the average household wealth in the eastern region is 2.03 times that in the central and western regions respectively.The 2012 China Household Finance Survey report showed that the participation rates of household stock markets in the central,Central and western regions were 13.5%,4.9%,and 4.1%,respectively,showing large regional differences.Therefore,from a regional perspective,this paper discusses the differences in the allocation of household financial assets and their influencing factors in different regions,and provides relevant suggestions for the development of household finance in various regions,hoping to provide reference value for subsequent studies.Firstly,the related theories of the allocation of family financial assets are expounded.Secondly,the differences in the allocation of household financial assets in the East and west of China are statistically described and the influencing factors are analyzed.Thirdly,the regional differences of influencing factors are analyzed.Finally,the conclusions are summarized and relevant policy recommendations are put forward.The research results show that the factors affecting the allocation of household financial assets are different in different regions,and the effects of each factor are different,showing significant regional differences.The main conclusions are as follows:(1)There are regional differences in the impact of total financial assets on the possibility of households participating in the allocation of financial assets.The positive effect of the total financial assets in the eastern region is greater than that in the central and western regions,and it passes the significant test.(2)There are regional differences in the impact of housing factors on household allocation of financial assets.Whether or not there are more than two sets of houses has a positive effect on families in the central part of the East,and the western part of the country has a negative effect,and the difference between the western part and the central part of the country is significant.3)There are regional differences in the impact of years of education on the allocation of financial assets in households.Among the influence of years of education on the financial asset allocation possibilities of households,the positive effect of central region is significantly greater than that of Eastern and western regions.At the level of participation,the positive impact of years of schooling on families in the central and western regions is significantly greater than in the eastern regions.However,only the eastern region and the central and western regions have significant differences,and the western region and the central region have no significant differences.(4)There are regional differences in the impact of regional financial development on the possibility of households participating in the allocation of financial assets.The influence of the eastern region is positive,the influence of the central and western regions is negative,and the negative effect of the western region is greater than that of the central region.However,only the eastern regions have significant differences.