Family finance

Author: Tian Jianying
Publisher:
Publish Date: 2006-06-01
Features: Since the reform and opening-up, China's economy has experienced rapid development, and household incomes have been steadily increasing. With the rise of real estate fever, private cars, and international travel becoming common among ordinary families, how to plan wealth, how to make it grow, and how to enjoy it have gradually become topics of concern for every family. Data from the China Statistical Yearbook show that over the past 13 years, the average inflation rate in China has been 6.5%. This figure means that if cash is not invested or managed, it will decrease by 6.5% annually. From the introduction of personal financial products by domestic banks in the 1990s to the current situation where almost all banks have personal finance departments, with some even offering higher-level private banking services, insurance companies, fund management firms, and third-party financial institutions have all launched their own financial planners. Newspapers, magazines, and various media have extensively promoted and popularized financial literacy. Major financial institutions have also conducted "Family Financial Planning Festivals" in nearly 20 cities, such as the first financial planning culture festival in Hubei in 2006, the Dalian Citizens Financial Planning Festival from April 22 to 24 in 2005, and the first exclusive "Personal Financial Planning Festival" held by China Minsheng Bank in Shanghai on November 19–20 in 2005. The vitality and development direction of the financial market are evident. With the comprehensive opening of the financial market, foreign financial institutions such as Citibank, HSBC, ABN AMRO, Standard Chartered, and East Asia Bank have also entered China, bringing their successful and mature experiences to the Chinese market.
Based on the concepts, theories, and essence of family financial planning, this book analyzes the economic structure of households and provides an in-depth and detailed examination of the financial planning market and products. On this foundation, it proposes models for family financial planning and guidance on how to conduct family financial planning. Readers can use this book to draft their own financial plans. The book incorporates numerous real-life examples, making it more and avoiding the flaw of content being inconsistent with actual market operations. It serves as a reference for families and demonstrates the author's commendable efforts and attempts in this regard.