Research on the Influence of Internet Finance on the Allocation of Household Assets in the New Middle Class: Setting Shandong Province as an Example

Abstract

In the last few years, China's Internet finance has been extremely hot, and Internet financial products develop rapidly. Duo to having the advantages of high profitability, low threshold, various types, convenience and fast transaction, Internet financial products is favored by more families. Especially for the new middle class who have high education and high income, they are more likely to accept Internet financial products. Therefore, Internet finance may have a significant impact on the change of asset allocation structure of the new middle class households. So this paper is based on the Allocation of Household Assets questionnaire data of the new middle class in Shandong Province, analyzed the difference in assets structure between the new middle family of considering Internet financial investment and no consider the Internet financial investment. It is concluded that believes that Internet finance can increase the degree of diversification of the new middle class family assets, encourage households to take part in the financial market, and promote the proportion of investment in risky financial assets. Finally, this paper proposes to some policy suggestions that strengthening the publicity of Internet finance, continuing to encourage the innovation of financial products, and preventing risks of Internet finance, which is to promote the healthy and stable development of Internet finance in China.