The Demand And Supply Analysis On The Eldly Community Financial Service In Chinese City

When the Chinese population is rapidly aging, taking care of the aged has become a prevalent social problem. Aging at home with community service will be the most preferential future life style for most people as influenced by the traditional concept and supported by the increasing family wealth owning to booming economic development. Due to rising old-aged dependency burdens, shrinking family size as well as new family model of "4-2-1", the problem of how to raise aged people now has become a social problem instead of an individual’s problem nor a family’s headache. Meanwhile, there are a number of aspects that are involved in taking care of eldly or aged people by the community and our society in addition to meet their basic needs. The module of aged-care at home with community support is an innovative module of combination service featured by lower cost, more comprehensive community services and more subsidies provided by the government. Notwithstanding the aging and its associated problem has drawn great attention from the society and the government, as an individual, it is important to strengthen his own capability to lead to a wealthy and high quality retirement life in view of the limited social resource allocated to each individual. Nowadays rising personal income has aroused people’s enthusiasm in money management. Although the eldly financial industry is almost a virgin land, the development of community service relies on the support from eldly financial industry. With financial service we can enjoy a better life and live in humanized communities through appropriately designing community financial services, promoting and attracting more financial institutions to contribute to this great course.On one hand our life is full of financial activities; on the other hand the financial theories are too profound to be understood by ordinary people. From Keynesian economics to contemporary theory of Nobel laureate Robert K Merton, the wide-ranging finance has all along been a jewel in the economic crown. It is hard for ordinary people to understand the elevated financial terminologies and specious financial problems. To attend and care about the Elder financial needs is based on the combination of focus on finance, overwhelming enthusiasm in learning financial knowledge and intimate needs in financial plannings. The aged are the most disadvantage and vulnerable group hence they are usually neglected in the financial market. Savings and investments are also accumulation of financial resources in retirement when one gets old vis-a-vis young times.By drawing on the experience and theory of eldly financial services and community financial services at home and abroad, the author is trying to make some suggestions on the development of eldly community financial services based on aged-care at home in cities. Through investigation and interview it has been found that the fundamental financial service has not been included in the community theory and pension reform in our country. But still some commercial banks have launched community financial services with few eldly financial services. Judging on the existing situation, the author found the following questions:firstly, community financial services are developing irregularly due to lack of standardized community planning and guidance from government; secondly, eldly financial care and products in the community are insufficient; third, the financial rules and regulation shall be updated in view of the special characteristic of the eld’s finance needs; last but not least, the financial institutions shall put in more efforts in the product development for the old aged customers and raise their services standard in the community. In view of the above deficiencies, the author proposed to improve from the following aspects including but not limited to a) the comminity organizor must not only pay attention to the satisfaction of basic needs of daily life but also involve more financial institutions to promote and spread the community financial services, especially to meet the financial requirements from old people; b) both government and financial institutions shall put great efforts in construction of eldly community financial services and products with the aim to fill in the gap between financial needs and service offering for old people.