“China Finance” publishes a survey of the assets and liabilities of Chinese urban households in 2019.
People’s Bank of China Survey and Statistics Department Urban Resident Household Assets and Liabilities Survey Task Force conducted asset and liability surveys of more than 30,000 urban households in 30 provinces (autonomous regions and municipalities) across the country in mid-to-late October 2019. The survey shows that the total assets of urban households are 3.179 million yuan per household, and the distribution of assets is clearly differentiated; family assets are mainly physical assets, housing accounts for nearly 70%, and the housing ownership rate reaches 96.0%; financial assets account for a relatively low rate of only 20.4 %, Households prefer risk-free financial assets.
Housing is an important component of the family ’s real assets, and the household ownership rate of residents is relatively balanced. Among the real assets of urban households in China, 74.2% are housing assets, and the average housing assets per household are 1.878 million yuan. Resident housing assets accounted for 59.1% of total household assets. Compared with the United States, the proportion of housing assets of Chinese households is relatively high, 28.5 percentage points higher than that of American households.