(ECNS) - More than 97 percent of Chinese women prefer managing their personal wealth online, the Beijing Times reported on Thursday, citing a report.
The report, jointly released by Chinese financial information website Hexun.com and personal financing app Tongbanjie, shows that the Internet has been a catalyst for women's wealth management awareness.
Female investors choose to use the Internet because it is easy, quick, transparent, has a low threshold and high returns, the report said. The post-80s generation is the dominant force in using Internet-based financing methods, accounting for 57 percent of all female users.
Compared to men, women turn to more conservative investments and are more risk averse, the report found. But, more than 60 percent of the women surveyed liked to save their money in banks. Financial products like funds and peer to peer (P2P) lending won 50 percent and 40 percent of women respectively.
Unmarried women were more willing to save money and were less concerned about personal wealth management, which becomes a focus after marriage, according to the report.
Over half of those surveyed made investment decisions on recommendations from their relatives or friends. The report said this is because many women have less knowledge about investment or experiences.
Hong Hao, the vice president of Tongbanjie, said word of mouth marketing is important for online financial companies, as female investors rely heavily on information from their friends and social networks.
