Research On The Allocation Of Household Assets In China's Middle Class Under Low Interest Rate Environment

Since 2008 economic crisis,the world's central Banks to take tactics is a massive increase in liquidity,and the key interest rates fell to lows in ten years,to hope is to stimulate the domestic economy and start the inflation.This strategy has led to negative interest rates in Japan and several European countries.Interest rates in most Asian countries have hit record lows,but are still positive.From the perspective of our country,China's economy has entered a new normal,the economic growth rate has slowed down,and the central bank has continued to carry out loose monetary policy in order to maintain the policy objective of maintaining stable growth and employment.Since the end of 2014,there have been six consecutive cuts and six interest rate cuts.The benchmark one-year deposit rate has fallen from 3%to 1.5%.Before the economic situation in China and abroad is fundamentally improved,China's market interest rate will be low,and China's middle class family asset allocation will be in a low interest rate environment.At present,China's interest pattern is diversified and the trend of social stratification is increasingly obvious.The growth of the middle class is the period of China's social and economic development an important force to be reckoned with,their special economic and social status have almost the same in the developed countries of the middle class.And how to make the assets of the middle class guarantee safety,profitability and liquidity,it is very important to maintain and increase value continuously.This thesis according to the theory of asset allocation and merrill lynch,an investment theory as the breakthrough point,through the Black-Litterman model to conduct a comprehensive in-depth theoretical and empirical research,to explore China's middle class family under the environment of low interest rates to rational asset allocation plan.