Investors upbeat on personal finances in 2020: survey

More than 85 percent of investors have an upbeat outlook on their financial status for this year and expect to maintain or increase their incomes, says a joint study by the 21st Century Business Research Institute and Tencent's wealth management platform Licaitong. 

Only 14.7 percent expect a slight or significant drop in income, according to the survey of 1,883 respondents in 111 cities which report annual household income above 200,000 yuan (US$28,571). 

Over one-third favor money market funds, bond funds or other wealth management plans in 2020 as they seek stable investment options, while 26.8 percent would prioritize property as an investment channel. 

Nearly 60 percent saw an increase of annual income in the past year, and the higher their previous income, the bigger increase they reported. About one-fourth said their income remained unchanged and 17 percent reported less earnings from the year earlier. 

Some 12 percent of respondents have not increased their savings in 2019 while property and children's expenses are the two biggest spending items. 

One-third of respondents will consider increasing children's education spending in the coming year, along with traveling and education expenditure.  

Wealth management and mutual funds are the top investment choice for families with household income over 200,000 yuan, while 63 percent choose property and 41 percent favor insurance policies.   

Only 6 percent of respondents suffered investment losses in the past year, and 75 percent reported investment returns of less than 10 percent.