Females take Internet financing world by storm

An employee shows a visitor how to use online payment functions on mobile devices at an expo in Beijing.[Photo/China Daily]

With wealth management services getting extensive attention of Chinese families in recent years, demand for such services is rising among women, said Beijing Morning Post Tuesday.

A report released by Yooli.com, an online wealth management website, showed that 45 percent of female investors were born after 1985, a 7.6 percent growth year-on-year.

Younger female investors focus more on the mobility of financing products while older females prefer long-term products with a stable return as they usually take care of the wealth management of their families.

Even though younger female investors dominate the Internet financing world with their sheer numbers, women who were born in the 1960s rule the list with hard cash. Female investors who were born in the 1960s number just 16 percent, but invest on average 129,000 yuan ($19,826), which is nine times more than the post-90s group and three times more than the post-85 group.

The amount is also 25,000 yuan higher than the average invested by men of the same age group.

According to the report, holiday sales are the weakness for female investors. Yooli.com sees peak investment coming from female investors during holiday and festival seasons as the website offers more favorable deals on financing products to their targeted investors.

As smart devices gain strong momentum in recent years, it is common for people to invest through apps. According to statistics, the number of investors using apps is six times more than those who invest through PCs, more than half of whom are females.

The top cities which see most female investors are Beijing, Shanghai, Shenzhen and Guangzhou, with the average investment made by females in Beijing at 10,500 yuan, according to the report.