Rong360 Jianpu Technology (NYSE: JT) Finds Chinese Households Mainly Rely on Mass Communication for Financial Education

Rong360 Jianpu Technology (NYSE:JT)

Jianpu Technology (NYSE:JT)

BEIJING, CHINA, July 8, 2020 / —
With the global economy encountering Covid-19 pandemic, financial markets have been hit hard in the first quarter of 2020, which had also delivered a heavy blow to the balance of payments of ordinary households. The asset allocation planning of Chinese households not only focus on the present, but also on the long-term future. Rong360 Jianpu Technology Inc. (NYSE: JT) conducted a survey on the risk factors that Chinese households are most concerned about in the future.

Where do the Chinese households see the future risks? Rong360 Jianpu Technology Inc. (NYSE: JT) finds that Chinese households are most sensitive to the depreciation of cash due to inflation. This may be because Chinese households have a high proportion of bank deposits and cash holdings in their asset allocation, and the depreciation of cash may directly affect the daily lives of the majority of households. By contrast, Chinese households are more confident about real estate, with only 38.97% of respondents expressing concerns about the depreciation of real estate.

From the perspective of family income, low-income families tend to pay more attention to the impact of unemployment and illness, middle-income families tend to be more concerned about the depreciation of cash, and high-income families tend to focus more on the depreciation of real estate and the occurrence of financial crisis.

To identify and foresee risks and take targeted measures are routine operations of household asset allocation. So, through what channels can Chinese households obtain information about asset allocation decisions and can they truly avoid risks and maintain the value of their assets?

The Rong360 Jianpu Technology Inc. (NYSE: JT) survey had found that the main sources of household asset allocation information for Chinese households were news platforms and social media, accounting for more than 60% of the respondents. 36.4% of respondents said they got decision-making information from the investment and financial advisers, and only less than 10% respondents said they got decision-making information from school curricula.

These data indicated that Chinese households mainly rely on mass communication for financial education, and the majority still refused to choose employing professional financial advisers as the source of information. In fact, with the continuous development and improvement of online education, investment and financial management courses have become increasingly dependent on online accesses, and it has become more convenient for the public to acquire financial knowledge.

However, the differences between the average households and high-income households are still significant, and high-income households are more likely to obtain information from professional sources. According to the survey data, high-income households rely less on mass communication channels than other households, and the information they have access to is far more than that of other households when it comes to professional financial advisers and school curricula.

About Rong360 | Jianpu Technology
Rong 360 | Jianpu Technology (NYSE: JT) is an independent open platform for discovery and recommendation of financial products in China. Started in 2011, Rong 360 | Jianpu Technology (NYSE: JT) connects 150 million Chinese consumers, SMEs with more than 2000 financial institutions via AI, cloud and big data technologies and the whole service is internet-based. It collected 200 million USD funding from renowned investors such as Sequoia, Light-speed, Temasek etc. before going public in New York Exchange in November 2017. The company lately set up branches in India, Singapore and other Southeast-Asian countries.

Di Wang
Jianpu Technology
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Source: EIN Presswire