Financial Health

1. Present State and Demand Analysis of Financial Services for Gig Workers Project (Completed)

CAFI conducted a research project on Present State and Demand Analysis of Financial Services for Gig Workers in September, 2020. Online questionnaire and interview on truck drivers was carried to acquire their demographics and scrutinize their present state of financial services. 

Please click here to view the report

2. Financial Health of Blue-Collar Workers in Manufacturing Sector Project (Completed)

In Early 2020, CAFI joined force with Fujinfu Fintech, the Personal Banking arm of Foxconn, to jointly launch the Financial Health of Blue-Collar Workers in Manufacturing Sector project. Levering Fujinfu lending platform's credit data of blue-collar workers, the Project investigated the impact of blue-collar segment's occupation, income, and skill set on their purchasing power of financial services and examined the segment's state of financial health. The project team conducted a survey on over 2000 people, among whom 100 people were closely followed, and finally acquired 21717 effective samples. Based on the surveys and interviews, relevant data were analyzed and eventually compiled the report.

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3. Research Project on Diagnosis of the Epidemic's Impact on the Financial Health of the Working Class and the MSEs in China (Completed)

In February 2020, during the outbreak of COVID-19 Pandemic in Wuhan and nation-wide lock-down, CAFI launched this research project, under which a national-wide online survey was undertaken targeted at working class and MSEs, among other key segments. Based on the survey, their status quo is analyzed and policy suggestion was put forward accordingly. 

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4. Research on the Current Condition of Chinese Women's Financial Health and the Demand for Financial Capacity Building  (Completed)

In February 2021, based on 2272 questionnaires and interviews with 15 young and middle-aged women, Chinese Academy of Financial Inclusion (CAFI) analyzed from four dimensions about women's financial health, including their daily income and expense management, financial resilience, investment in the future, and financial capacity. The research found that women’s financial health is generally in a sub-healthy status, and education, employment and marital status (age) are the main factors that affect women’s financial condition and values. In response to this situation, the research team puts forward suggestions to improve women's financial health, such as improving women's insurance security, formulating long-term financial plans, rationally using wealth management tools, improving financial knowledge, and understanding financial risks correctly.

Please click here to view the report

6. Metlife Foundation's Financial Health Project

Entrusted by Metlife Foundation in 2018, the project is intended to investigate the digital gap between super platforms and low- and middle-income groups, analyze the underlying reasons and, in particular, the role and problems of the financial inclusion aggregator institutions (agents, cooperatives and rural organizations) in the process of connecting the two sides, and explore how to effectively solve the "Last Mile"problem of financial inclusion through transformation and innovation of aggregators. The project is divided into two phases: the first phase includes investigation, analysis and planning and design; the second phase is project implementation during which 6 selected aggregator institutions will be transformed and innovated to enhance their service capabilities. It is estimated that 200,000 people will benefit from the project.

  1. 6.1 Measuring the Financial Health of GIG Workers in China (Completed)

  2. This report proposes a framework to measure financial health (FH) for a particular segment of the population in China: delivery riders, who are part of the larger segment of gig workers. To recap, financial health is an organizing principle that allows us to characterize an individual's or household's financial wellbeing. This concept of FH enables us to systematically extend the conversation around financial inclusion, which primarily involves access and usage, to one that also focuses on the efficacy of that access.

  3. Please click here to view the report

  4. 6.2 Financial Health Survey (Proceeding) 

  5. The project has now entered the second stage of designing and developing a mini program on the Wechat platform for measuring financial health. CAFI developed the program with the technical support of BFA Globa. The mini program has been finished and released on the CAFI Official Account, which is widely praised. At the same time, CAFI has also launched 50 video learning materials for users to learn and improve their financial health.