China’s rising affluent population is becoming more financially confident and more active in managing money, even as many remain underprepared for longer-term financial planning, an industry report found. The China Rising Affluent Financial Well-Being Index rose to 71.99 in its latest reading, up 1.64 from a year earlier and marking its biggest year-on-year gain since 2021. The index, now in its 10th consecutive edition, was released on Oct 27 and compiled by experts from Shanghai Jiao Tong University’s Shanghai Advanced Institute of Finance (SAIF) and global financial services provider Charles Schwab. Its latest increase reflected improvements across four measured areas:…
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