China Mass Affluents Market Size, Trends and Opportunities by Radiant Insights

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Date Submitted: 09/07/2016 12:39 AM

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China Mass Affluents Market Share, Key Trends and

Opportunities by Radiant Insights


Mass affluent populations around the world are growing in size, making them an increasingly important segment

for financial providers. These consumers possess more financial products than average, maintain higher levels of

savings and investments, and are more likely to use added-value services. This makes them an attractive and

profitable segment to target.

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Key Findings

-�Mass affluents are more inclined than retail consumers to keep their savings with their main bank. More than

three quarters (76%) of mass affluents use the same provider for both products, which is marginally greater than

the 70% of retail consumers. This also makes mass affluents a particularly valuable segment in which to drive cash

flow for lending operations.

-� ICBC enjoys a strong lead over its rivals in the current account market, with a 27% share among mass affluents

vs 25% for the retail market. China Construction Bank follows closely with a market share of 24%. Collectively, the

top three banks hold 64% of the mass affluent market in China.

-�Longstanding reputation (34%), financial stability (29%), and international brand (22%) are key drivers for mass

affluents when choosing a savings provider. The first two factors are significantly more important to mass affluents

than retail consumers, suggesting that traditional, established banks have an intrinsic advantage when competing

for this segment.

-�Conditions appear favorable for future growth in P2P lending in China, with 66% of mass affluents claiming to

be happy to borrow from such a lender, and 50% happy to invest funds in this sector. Regulators need to ensure

strict oversight in order to prevent any major losses that may dent consumer confidence.


Verdict Financial's Mass Affluents:...