Wealth Anxiety Has Become “A Disease of the Times” and over 70% of Chinese Are at Moderate Anxiety Levels
According to the “National Wealth Anxiety Report 2017” released by PING AN Insurance (Group) Company of China, the average Chinese wealth anxiety value is 43.71. 17.6% people in China are in a low anxiety state with a wealth-anxiety value less than 34; 78% are in a state of moderate anxiety and their wealth-anxiety value is from 34 to 62; 4.4% are in a state of high anxiety with a wealth-anxiety value above 62.
Where does the wealth anxiety come from? The data show that Chinese people are more concerned about their own pension, parents’ pension, medical care, wealth preservation and appreciation, career development, children education, wealth inheritance and real estate.
Family status can significantly affect the level of wealth anxiety, but not the more the wealth people own, the less anxiety they have. The higher annual net family income is, the lower anxiety level is. But when the net income reaches a certain level, the anxiety level would no longer change evidently. People with annual household expenditure between 0.5 million and 1 million have the lowest wealth anxiety level, even less than the ones above 1 million.
Second, there are significant differences in wealth anxiety among people in different industries. The wealth anxiety level of people engaged in automobile machinery and service intermediary is obviously higher than that of other industries.
There is a significant difference in wealth anxiety among people of different genders. For men, there is a low anxiety of working in the media education culture industry. While for women, the anxiety level of working in government and public utilities is low.
Moreover, the degree of urban development has a lot to do with wealth anxiety. Some cities with relatively fast development, such as Hangzhou, Tianjin and Chongqing, have high wealth anxiety levels. People in the fast-growing cities are most impressed by the wealth change.
But the report shows that Chinese people in Beijing, Shanghai, Guangzhou, Shenzhen are not as anxious as you think, because they have relatively abundant investment channels for wealth preservation and appreciation. Their anxiety levels have no significant difference from people in other cities.
Besides, the education degree has different impacts on the wealth anxiety of male and female. For men, there is no significant difference in wealth anxiety among people with different education degrees, but with the increase of educational degree, wealth anxiety decrease gradually. For women, the level of wealth anxiety is significantly different among people with different education degree, and the wealth anxiety of the master is the lowest.
In addition, marital status, related personal growth experience, etc. can be factors affecting personal wealth anxiety. In addition to the anxiety caused by social environmental stress, the pursuit of wealth appreciation has also become a source of anxiety.