The Choice Behavior of Financial Asset Allocation of Chinese Residents: Based on CHFS2017 Research

With the overall increase in household income in China, more and more Chinese residents are beginning to pay attention to the allocation of household assets. Financial assets are the main channel for household participation in investment, and the allocation of investable household assets across various subcategories of financial assets is an important aspect of household financial asset allocation decisions. The household financial asset allocation studied in this paper mainly focuses on household investment behavior in financial risk assets, including two aspects: the first aspect is the choice of whether to invest in financial risk assets, which reflects the breadth of participation of Chinese household residents in financial risk asset investments; the second aspect is the proportion of financial risk assets held by households in total household assets, reflecting the depth of participation of Chinese household residents in financial risk investments. The purpose of this study is to identify the degree of influence and interrelationships among various factors affecting household financial asset allocation in China, and to provide effective recommendations for household financial asset allocation in China based on the research findings.