Real Estate
China Households to Cut Property in $18 Trillion Shift
- Property allocation will fall to 26% by 2030 from 37%: CLSA
- Share of financial products will grow to 21% from 13%
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China’s households are expected to shift 127 trillion yuan ($18.1 trillion) into financial products over the next nine years, an opportunity ripe for financial institutions as the country’s property sector sours, brokerage CLSA Ltd. said.
The share of Chinese household assets allocated to property will fall to 26% by 2030 from 37% in 2021, according to estimates from Hans Fan, the head of China financial research at CLSA. In contrast, the share of money allocated to investments such as mutual funds, wealth management products and insurance will grow to 21% from 13% in the same period.