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Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example

Received: 23 November 2020     Published: 18 January 2021
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Abstract

In the last few years, China's Internet finance has been extremely hot, and Internet financial products develop rapidly. Duo to having the advantages of high profitability, low threshold, various types, convenience and fast transaction, Internet financial products is favored by more families. Especially for the new middle class who have high education and high income, they are more likely to accept Internet financial products. Therefore, Internet finance may have a significant impact on the change of asset allocation structure of the new middle class households. So this paper is based on the Allocation of Household Assets questionnaire data of the new middle class in Shandong Province, analyzed the difference in assets structure between the new middle family of considering Internet financial investment and no consider the Internet financial investment. It is concluded that believes that Internet finance can increase the degree of diversification of the new middle class family assets, encourage households to take part in the financial market, and promote the proportion of investment in risky financial assets. Finally, this paper proposes to some policy suggestions that strengthening the publicity of Internet finance, continuing to encourage the innovation of financial products, and preventing risks of Internet finance, which is to promote the healthy and stable development of Internet finance in China.

Published in Science Innovation (Volume 8, Issue 6)
DOI 10.11648/j.si.20200806.13
Page(s) 170-175
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Internet Finance, The New Middle Class, Household Financial Assets Allocation

References
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Cite This Article
  • APA Style

    Yingying Sun, Zhi Chen. (2021). Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example. Science Innovation, 8(6), 170-175. https://doi.org/10.11648/j.si.20200806.13

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    ACS Style

    Yingying Sun; Zhi Chen. Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example. Sci. Innov. 2021, 8(6), 170-175. doi: 10.11648/j.si.20200806.13

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    AMA Style

    Yingying Sun, Zhi Chen. Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example. Sci Innov. 2021;8(6):170-175. doi: 10.11648/j.si.20200806.13

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  • @article{10.11648/j.si.20200806.13,
      author = {Yingying Sun and Zhi Chen},
      title = {Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example},
      journal = {Science Innovation},
      volume = {8},
      number = {6},
      pages = {170-175},
      doi = {10.11648/j.si.20200806.13},
      url = {https://doi.org/10.11648/j.si.20200806.13},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.si.20200806.13},
      abstract = {In the last few years, China's Internet finance has been extremely hot, and Internet financial products develop rapidly. Duo to having the advantages of high profitability, low threshold, various types, convenience and fast transaction, Internet financial products is favored by more families. Especially for the new middle class who have high education and high income, they are more likely to accept Internet financial products. Therefore, Internet finance may have a significant impact on the change of asset allocation structure of the new middle class households. So this paper is based on the Allocation of Household Assets questionnaire data of the new middle class in Shandong Province, analyzed the difference in assets structure between the new middle family of considering Internet financial investment and no consider the Internet financial investment. It is concluded that believes that Internet finance can increase the degree of diversification of the new middle class family assets, encourage households to take part in the financial market, and promote the proportion of investment in risky financial assets. Finally, this paper proposes to some policy suggestions that strengthening the publicity of Internet finance, continuing to encourage the innovation of financial products, and preventing risks of Internet finance, which is to promote the healthy and stable development of Internet finance in China.},
     year = {2021}
    }
    

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  • TY  - JOUR
    T1  - Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example
    AU  - Yingying Sun
    AU  - Zhi Chen
    Y1  - 2021/01/18
    PY  - 2021
    N1  - https://doi.org/10.11648/j.si.20200806.13
    DO  - 10.11648/j.si.20200806.13
    T2  - Science Innovation
    JF  - Science Innovation
    JO  - Science Innovation
    SP  - 170
    EP  - 175
    PB  - Science Publishing Group
    SN  - 2328-787X
    UR  - https://doi.org/10.11648/j.si.20200806.13
    AB  - In the last few years, China's Internet finance has been extremely hot, and Internet financial products develop rapidly. Duo to having the advantages of high profitability, low threshold, various types, convenience and fast transaction, Internet financial products is favored by more families. Especially for the new middle class who have high education and high income, they are more likely to accept Internet financial products. Therefore, Internet finance may have a significant impact on the change of asset allocation structure of the new middle class households. So this paper is based on the Allocation of Household Assets questionnaire data of the new middle class in Shandong Province, analyzed the difference in assets structure between the new middle family of considering Internet financial investment and no consider the Internet financial investment. It is concluded that believes that Internet finance can increase the degree of diversification of the new middle class family assets, encourage households to take part in the financial market, and promote the proportion of investment in risky financial assets. Finally, this paper proposes to some policy suggestions that strengthening the publicity of Internet finance, continuing to encourage the innovation of financial products, and preventing risks of Internet finance, which is to promote the healthy and stable development of Internet finance in China.
    VL  - 8
    IS  - 6
    ER  - 

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Author Information
  • Department of Accounting, Shandong Technology and Business University, Yantai,China

  • Department of Accounting, Shandong Technology and Business University, Yantai,China

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