Shanghai residents choose cautious investment to build wealth: survey

SHANGHAI - More than 60 percent of Shanghai residents believe they can best increase their wealth through smart investment, though most are cautious in their investment choices, according to a new survey.

About 63 percent of the respondents said their best chance of getting rich is through smart investment, while others believe that starting a company or holding a stable job is the only way to build their wealth.

Published ahead of the 13th Shanghai Money Fair, due to open on Friday this week, the survey was organized by a local investment magazine and the Fudan University Media and Opinion Research Center (FMORC), which polled 857 people between ages 18 and 50.

According to the survey, bank deposits were the top choice for residents in the financial hub, trumping stocks and funds. About 49.4 percent of the respondents said their top priority while making investments is preserving their principal.

More than 85 percent of respondents reported positive returns from investment over the last year, 75 percent of whom said returns were less than 10 percent, the survey showed.

The 13th Shanghai Money Fair will be held in Shanghai from Nov 6 to 8.