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?management, said they are seeing high levels of cash globally. But she also stressed that, alth
ough it increases liquidity, cash may not necessarily be a safe strategy in the long run.
Faced with many uncertainties, including downward pressure on China’s economy and escalating trade fricti
on between China and the United States, 36 percent of the 465 Chinese high net worth ind
ividuals – those with average personal wealth of at least 10 million yuan ($1.45 million) – polled by the Hurun Research In
stitute said that the focus of their investment strategy will be to “avoid risks” this year, mainly by increasing
asset allocation to fixed income products, gold, bank deposits and currency products in the next three years.
Mark Haefele, chief investment officer at UBS global wealth management, said that investors sometimes focus too much on th
eir home region. “Diversification is still the best way to access opportunities and sidestep domestic risks,” he said.
?she buys cosmetics, handbags and clothing from top brands through cross-border e-commer
ce platforms every month. Sometimes, she drives for one to two hours to neighboring bigger cities, such a
s Wuxi in Jiangsu, and Shanghai for shopping. She also plans two or three overseas trips every year.
“I don’t have any housing or car loans, and don’t have to worry about daily costs, as I live with my parents. I usually spend all my sa
lary on daily consumption and entertainment, which is quite common for people such as myself,” she said.
Jason Yu, managing director of Kantar Worldpanel, said small-to
wn youths look to the internet for the latest information, products and lifest
yles. The gap between young people in lower-tier cities and those in metropolises has narrowed greatly.
“Small-town youths now have broader horizons, are well informed, and some have even started to lead ‘avant-garde’ lifestyles,” he said.