Let young people feel more gainful in property income
These days, the post-95 Xiao Jiang cares about two things most: the two sessions and the fund.
She is one of many "basic people", and therefore pays more attention to which industries the country will focus on developing-in her opinion, this may contain the "code" of future fund income.
In addition to working to earn wages, more and more young people are starting to find ways to "make money".
In fact, this is also the highlight of a series of policies in the next five years.
The "14th Five-Year Plan" and the 2035 long-term goal outline (draft) pointed out that "multi-channel increase urban and rural residents' property income, increase the proportion of farmers’ land value-added income sharing, improve the dividend system of listed companies, and innovate more to meet the needs of household wealth management. Financial product."
China's per capita GDP has surpassed US$10,000 for two consecutive years, which is not far from the high-income country standard line defined by the World Bank.
Liu Shijin, deputy director of the Economic Committee of the National Committee of the Chinese People's Political Consultative Conference and vice chairman of the China Development Research Foundation, believes that the focus of economic and social development in the next 5 to 15 years is quality rather than quantity, and one of the most important tasks is to expand the size of the middle-income group.
Currently, there are approximately 400 million people in this group in China.
In Liu Shijin’s view, the "14th Five-Year Plan" is a very important historical juncture for China. The doubling of the middle-income group should be another important strategy after the establishment of a well-off society in all respects, and finding ways to increase residents’ property income is one. Important method.
For every ordinary citizen, this may mean that there are more assets that can be activated and more money at their disposal.
More young people embrace the capital market
On the eve of the two sessions of this year, the "China National Balance Sheet 2020" issued by the National Finance and Development Laboratory of the Chinese Academy of Social Sciences and the Institute of Finance shows that as of 2019, China's net social wealth is 675.5 trillion yuan, and the wealth of the resident sector accounts for 76%. , The per capita wealth of residents is about 366,000 yuan.
Bank savings and houses are the most important part of the wealth of many Chinese families.
A higher level of savings rate also means greater investment potential.
With the gradual deepening of the property market regulation policy of "housing, living and not speculating", many young people now prefer to use funds, stocks and other methods to manage financial investment.
At the end of 2019, Xiao Jiang, with the idea of earning some pocket money, purchased the first fund through fixed investment.
Many of his peers around him are buying funds or stocks, "Everyone is going crazy."
In January this year, the “Guiding Opinions on Promoting the High-Quality Development of the Banking and Insurance Industry” issued by the China Banking and Insurance Regulatory Commission pointed out that the direct financing functions of wealth management, insurance, trust and other products should be effectively used to cultivate value investment and long-term investment concepts and improve the capital market. Investor structure; vigorously develop corporate annuities, occupational annuities, various health and pension insurance businesses, and promote effective conversion of residents' savings into long-term capital market funds through multiple channels.
The transfer of social wealth to the capital market is a general change that occurs in many countries after the real estate market has developed to a certain extent.
The establishment of the Science and Technology Innovation Board, the implementation of the registration system, and the introduction of new regulations for the delisting of A shares... In the past two years, a series of reform measures in the capital market have attracted young people to participate in investment with more flexible means.
According to data from Alipay, more than 40% of fixed investment fund users are born in the 90s, and 60% born in the 90s have held a single fund stably for more than one year.
Yang Changchang, a member of the National Committee of the Chinese People's Political Consultative Conference and chief economist of Shenwan Hongyuan Securities, noticed that in the past, whenever good news came out of the stock market, people would "rush" in and "put the'eggs' in a basket."
Now, people are also beginning to put "eggs" in different "baskets" such as funds.
Statistics show that in 2020, China's public fund market will not only continue to increase the scale of newly issued funds, but the total scale of asset management will also hit a record high.
Yang Changchang said that this has also promoted the development of national technological innovation industries and new consumption.
However, Yang Changchang has also noticed that some excessive speculation has also appeared in the capital market, which has distorted people's "view on wealth" to a certain extent.
He pointed out that at present, it is not only necessary to guide investors to do a good job in asset allocation, but also to guide young people to establish a correct "view on wealth."
"Some people think that wealth can be produced by typing on the keyboard. This concept needs to be changed."
Yang Changchang believes that one of the problems faced by ordinary people in financial management is excessive fluctuations in the returns of financial products.
He suggested that the capital market strengthen the innovation of financial products and provide investors with suitable financial products, not only emphasizing high yields, but also sustainable and stable financial products that match the real economy's returns.
He said that this puts higher requirements on the ability of financial institutions to combine products and achieve hedging.
Yang Chengcai suggested that the development of the modern factor market should be gradually promoted.
In addition to factors such as capital, land, and real estate, some modern factors such as knowledge, technology, trademarks and patents can also be priced appropriately in the market to obtain a reasonable return on investment.
"The root of all kinds of property income lies in the real economy." Yang Changchang said that young people should also set their sights on the real economy, especially the relationship between finance and the real economy.
When the real economy is good, property income will increase.
Farmers' income no longer depends on land only
Unlike young people in cities, in vast rural areas, most of the property income of farmers is still inseparable from land.
In Baiyang Village, Xiamen She Nationality Township, Fuding City, Fujian Province, many villagers have contracted out their land. The village has established a professional cooperative to grow fruits and develop farmhouse and tourism industries.
According to Wang Zhouqi, Party branch secretary of Baiyang Village, many villagers have four incomes: wages from working in factories in the village, income from tea planting, dividends from investing in local industries, and rent from renting out land or houses.
“There are many villagers who have invested two or three hundred thousand yuan in dividends.” Wang Zhouqi said that this typical poor village with an annual per capita income of less than 600 yuan and a collective debt of 430,000 yuan has now become a “star village in the country’s well-off development. ".
Cai Jiming, a representative of the National People's Congress and director of the Political Economy Research Center of Tsinghua University, found that the current urban-rural income gap is still significant, and it is largely caused by the difference in property income.
Relevant data show that the property income of urban residents is 10 times that of rural residents, and this is mainly composed of the difference in real estate income. Urban residents have complete usufructuary rights to residential land, which can be leased, transferred, or mortgaged together with residential land. However, farmers only have the right to use their homesteads, not the right to profit.
Cai Jiming suggested that the relevant content of the "Civil Code" property rights should be revised so that the rural collective homesteads and urban state-owned homesteads have the same usufructuary rights, and the restriction on the mortgage of rural homesteads can be eliminated by revising the "Guarantee Law" to make the land available. Elements flow freely between urban and rural areas, broaden the channels for farmers to obtain property income and mortgage loans, and narrow the actual income gap between urban and rural residents.
This year, at the two sessions, Liu Shijin prepared a "Suggestion for Accelerating the Expansion of Middle-income Groups Focusing on Migrant Workers in Cities."
In his view, a total of more than 200 million migrant workers in cities are the people most likely to move from a lower income level to a middle income level at this stage.
He suggested speeding up the entry of rural collective construction land into the market and the transfer of homesteads to increase the property income of migrant workers.
Liu Shijin also reminded that the income from farmland entering the market and the transfer of homesteads should be used first to improve the social security system of the rural population in the corresponding area, so as to relieve the worries and make them no longer dependent on land security, just like the urban residents. While efficiency and income increase, there is a more effective and stable social safety net underpinning.
China Youth Daily·China Youth Daily reporter Wang Lin, trainee reporter Zhao Limei and Wei Wan Source: China Youth Daily