HONG KONG -- Chinese households could shift some 127 trillion yuan ($18 trillion) into mutual funds and equities by 2030 as a property sector crisis shatters confidence in a bedrock investment, brokerage CLSA says.
Property made up about 37% of the country's personal assets last year. But a marked shift is underway that could see the property figure drop to 26% in less than a decade, while investments in bank and fund company wealth products were on track to shoot up to 21% from 13% last year, said Hans Fan, CLSA's Hong Kong-based head of China fintech and financial research.
