On The Wealthy Distribution Effect Of Household Financial Portfolio Choice In China

With the constant development of Chinese socio-economic level in the recent years, there was a great change occurred in the household financial asset choice behavior from the previous single bank savings gradually turned to diversification of financial assets. Diversification of household financial assets will result in diversification of household financial assets income, such as interest income, dividend income, capital gains, insurance benefits and so on. And the acquisition of such property income will impact the structure of households wealth accumulation and distribution of social wealth, which is studied in this paper as "wealth distribution effect of the household financial assets choice behaviors".This paper takes some exist research results as a reference, firstly estimates the stock of Chinese household financial assets and summarizes the macro features of Chinese household financial assets choice behavior. Secondly, it analyses the impact household financial asset income has on the household wealth accumulation respectively from three kinds of property income such as interest income, dividend income and capital gains. Then it does a comparative analysis of the contribution rate that the household financial property incomes act on to the household total income. Thirdly, using statistical measurement such as Lorenz curves, five other groups analysis, the Gini coefficient to analyse the impact of household financial property incomes has on the social wealth gap. And come to a conclusion that the change of China's household financial assets choice behavior enlarged the social wealth divide. Finally, the conclusion of this article has been summaried to give some policy recommendations, and to propose future research thinking.