Coronavirus pandemic significantly impacts on the way people plan their finances

Coronacrisis made 75% of Chinese consider boosting their savings. Source: shutterstock.com

According to LearnBonds, almost 75% of the Chinese intend to increase their savings in the future. The report also revealed that the coronavirus pandemic changed Chinese people’s investment preferences.

During the outbreak, nearly 43% of people surveyed increased their investments in insurance policies, saving accounts, 401Ks, and pensions plan.

What is more, almost 40% invested in bank funds, whereas 30% focused on their bank savings. Stocks, government bonds, and gold and other precious metals followed with 25%, 12%, and 12%, respectively.

At the same time, most of the Chinese savers intend to purchase additional insurance policies, the report found. This way, more than 75% of people surveyed answered insurance to be their top financial priority for the future.

SEE ALSO:

• How to develop healthy spending habits: the best ways to save up
• Pandemic impact on global economies: analysis & forecast
• The best short-term investments options