Research On The Impact Of Commercial Endowment Insurance On The Distribution Of Risky Financial Assets Of Chinese Residents

Since the reform and opening up,China's economy has developed rapidly,the wealth of China's residents has grown significantly,the awareness of financial management has gradually increased,and the household demand for financial assets has gradually become prominent.At present,China's family financial assets allocation is polarized,and the participation rate and proportion of risky financial assets are relatively low.How to effectively improve the allocation of risky financial assets by Chinese residents has become an important research in the development of China's financial market.This paper uses the China Household Finance Survey(CHFS)data to analyze the commercial endowment insurance how to impact the Chinese household to allocate their risky financial assets.On the one hand,it is beneficial to guide Chinese residents to rationally arrange household financial assets.On the other hand,it contributes to the development and innovation of the financial and insurance markets.This article will discuss the following five aspects:The first chapter mainly introduces the research background of this paper,that is,the current situation of aging of the population,the financial asset allocation of the households and the commercial endowment insurance,and the significance of this paper is put forward accordingly.Through the literature on the factors affecting family risky financial assets at home and abroad and the impact of insurance on them,the innovations of this paper are drawn.Then it introduces the research ideas and research methods,and finally introduces the innovations and shortcomings of this paper.The second chapter mainly expounds the basic concept of family financial assets,family risky financial assets,commercial pension insurance and the eastern,central and western regions of China.Secondly,it introduces the relevant theoretical basis of the risky financial assets allocation of households.The third chapter introduces the impact mechanism of commercial endowment insurance on family risky financial asset allocation,and introduces the statistical analysis of family risky financial assets,commercial endowment insurance and its impact on household risky financial asset allocation from China and different regions.The fourth chapter analyzes four questions through the empirical analysis method.Firstly,it analyzes the influence of whether the family has commercial pension insurance on the family risky financial asset holding;secondly,it analyzes the influence of whether the family has commercial pension insurance on the proportion of family risky financial assets;thirdly it analyzes whether the family holds the commercial pension insurance and the impact on the holding and proportion of family risky financial assets in different regions;finally,it analyzes the impact of whether the family holds commercial pension insurance on the family's various risky financial asset holding and proportion.The results show that: First,households holding commercial pension insurance can effectively increase the family's holding rate of risky financial assets;households with commercial pension insurance have a 12.1% higher risky financial asset holding rate than households without commercial pension insurance;Second,households holding commercial pension insurance can effectively increase the proportion of households' risky financial assets in financial assets;households with commercial pension insurance have a 5.7% higher risky financial assets than households without commercial pension insurance;third,Family holding commercial pension insurance has a significant impact on the east and central regions,while the impact of the holding and proportion of risky financial assets in the west is not significant.Fourth,the family holds commercial pension insurance for family risky financial assets in stocks,funds,financial management products,non-RMB assets and gold have significant effects.The fifth chapter introduces the main research conclusions and suggestions.The following suggestions are proposed for the development of China's commercial pension insurance and the increase of family risk financial asset holding rate and proportion: Firstly,insurance companies need to increase commercial pension insurance propaganda,develop key market and develop differentiated products;secondly,government should improve residents' education level,Improve the income growth system,strengthen financial market supervision,and coordinate the coordinated development of commercial endowment insurance and social endowment insurance.Third,other financial markets should enrich the types of financial products,enhance residents' perceptions of risks,and rationally allocate risk assets.The mainly literature to study the household financial asset allocation based on the commercial pension insurance is less.The innovation of this paper is to study the financial asset allocation of family from the perspective of commercial pension insurance,which made up for the shortcomings of the existing research.