"Money" has always been a taboo topic between parents and children in China. Parents often want their children to stay away from "money" and despise "profit" However, with the continuous development of China's economy and the rapid infiltration of information, "money" has a different definition in every child's mind. Therefore, how to guide children to establish a correct view of money and cultivate their financial management ability has become a concern of the current society. In recent years, many banks have also launched products with the theme of children's financial management. So how do banks view and do financial education for children? To this end, the reporter recently interviewed Janet Li, vice president of China Everbright Bank.

Reporter: In China, children's financial education has just started. What is the original intention of China Everbright Bank to devote itself to children's financial education?

Janet Li: As the first commercial bank in China to issue RMB wealth management products, Everbright Bank has always attached great importance to innovation. After several years of development, Everbright's wealth management products have also gained a good reputation in the market. At present, our work focuses on two aspects: one is to expand the market share of wealth management products, and the other is to pay attention to the popularization education of wealth management products.

There is no doubt that China's children are our future customers, and they are the most promising. In time, they will become the pillars of the country. Carrying out financial education in this group is beneficial to China Everbright's future business and national construction. On the other hand, at present, China is taking economic construction as the center, the capital market and money market are very active, and the investment channels and products are rich, which provides a relaxed environment for children to manage their finances.

Reporter: As we all know, due to different cultures, China and the West have totally different attitudes towards children's education. So where is the gap between China and foreign countries, especially western countries, in the education of children's financial management?

Janet Li: Compared with western countries, children's financial education in China is very different, which mainly comes from two aspects. The first is culture. The education we have received since childhood is that "everything is inferior, only reading is high", and parents' requirements for their children are also the most important. In addition, our parents' excessive care for their children also leads to their poor self-care and self-reliance ability.

What children in China need, the first thing that comes to mind is to ask their parents, but there is no awareness of getting paid through their own labor; In the United States, on the contrary, American children get what they want through labor from an early age, and parents also encourage their children to invest through their own abilities, which makes them have a sense of financial management and a better plan for their lives. This gap is obvious.

It is precisely because of the lack of financial education for children in China that a large number of "old people" and "moonlight families" have appeared in society, which are all manifestations of insufficient financial management ability. Only by understanding financial management knowledge from an early age can we help to plan our life more purposefully. As parents, on the one hand, we should educate our children to earn their own living from childhood and exercise their ability to live independently. In particular, our country is getting stronger and stronger now, and its prospects are very good. The future depends on today's children to take over. Only when they grow into an independent new generation can we build our motherland well. On the other hand, parents should also give their children a more relaxed environment, so that children can exchange income and arrange expenses through their own labor. Do they save money or buy wealth management products? This kind of thinking is beneficial to children. In addition, understanding these financial knowledge from an early age will also help them to have a specific understanding of financial common sense such as bills and bills, so that they can fill out checks and read bills when they enter the society in the future. Even these basic common sense, many adults don't know at present.

Reporter: In recent years, all walks of life have also launched some products with the theme of children's financial management. What is the difference between the products launched by China Everbright Bank and other products? Besides, what other activities does China Everbright Bank have to promote the popularization of children's financial education?

Janet Li: At present, "08 financial experts" are different from educational savings. It is an educational financial product. The biggest feature of this product is that the principal is amortized in installments, and the principal is repaid every six months, with a term of 1/3 years. The amortization date of principal is the pre-school period, which is specifically aimed at the tuition expenses at the beginning of school, and can meet the tuition fees of each semester without affecting the daily expenses of families.

With regard to the popularization of children's financial education, we launched a financial essay-writing activity with China Youth Daily, during which we arranged a financial lecture, an open day for banks and a summer camp for children's financial management. In addition, we also plan to launch a series of parenting education, covering all stages of financial education from primary school to university. The purpose is to make it easier and easier for children to understand financial management knowledge through various means.

Reporter: The children's financial market is a very promising market, but in the stage of cultivating the market, China Everbright Bank will certainly encounter many problems. So, does your bank have a long-term plan to cultivate this market?

Janet Li: The theme of children's financial education is very good, but we haven't found a channel for cooperation. This time, we found a good cooperation platform with China Youth Daily. We will allocate certain funds, products and contents every year to continuously promote the popularization of children's financial management education.

In fact, we are not pushing products, but more importantly, fulfilling corporate social responsibility, that is, enriching our education. Education not only includes physics, mathematics and English, but also should be more comprehensive, and financial management is a very important aspect. Let children integrate into society as soon as possible and exercise their independence.

At the same time, the launch of children's wealth management products is also a transformation of Everbright Bank's wealth management business. In the past, we paid more attention to selling products, but lacked the consideration of customer-centered banking business restructuring and process reengineering. We want to take this opportunity to make our wealth management products closer to customers and design and package products with customers as the center. From the beginning, we have given this product a special feature. Is it a financial plan suitable for the "moonlight family"? Still suitable for the "retired family" pension financial plan? Let each product have a specific group of people, and let the wealth management products play a humanized charm.

Reporter: Speaking of bank wealth management products, the "zero income" storm of bank wealth management products led the CBRC to reform wealth management products, especially in terms of risk warning. So, what do you think of "risk warning to customers"? What measures does China Everbright Bank have in this regard?

Janet Li: It is very important to remind customers of risks, because there is a misunderstanding about wealth management products. They regard wealth management products as savings, and equate products sold at bank counters with deposits, so they naturally think that there is no risk. However, linking wealth management products to the capital market is bound to be risky, and the fluctuation of capital market operation is beyond the control of banks.

But in order to be responsible for our customers, we constantly summarize and improve our financial products. In the specific operation, we should follow three purposes: first, we must be responsible to customers, do not make high-risk products, and try our best to break even. Second, try to make some products with fixed income, which is in line with the public's investment mentality. Third, it is very important to achieve hierarchical sales. For example, for customers who only receive a monthly pension, you can only buy products aimed at you, no matter how risky it is, we don't recommend it. Of course, the current situation is that many customers do not choose wealth management products according to their actual situation, but choose products with the highest returns and the highest risks according to the expected rate of return.

Strengthening customers' risk awareness is an educational process. When you choose to be the market leader and take the market with you, you have the responsibility to cultivate the market, which is a problem that we recognized from the beginning.

In fact, we have been constantly improving in recent years, from product description to propaganda caliber and product design, and we have also made certain achievements. Recently, many banks stopped selling wealth management products, but we didn't stop, which also proved our confidence in products from another side.

Reporter: Financial management has received unprecedented attention from the society in recent years, and more and more people have discovered the importance of scientific financial management. So, how should individuals manage their finances?

Janet Li: Everyone's social development period and growth background are different, which determines that everyone's financial management methods are different, but the purpose of financial management is to make reasonable arrangements for personal wealth. The Chinese nation is a thrifty nation, and financial management is also an extension of this traditional virtue.

The report of the 17th National Congress of the Communist Party of China puts forward that "creating conditions for more people to have property income", and financial management is undoubtedly the most important channel. Although people's lives are getting richer, they don't know much about wealth management products, especially in the face of rich wealth management products. If our bank has a consignment fund of more than 100, then how to choose products that perform better than others needs one-on-one guidance from experts.

At present, China Everbright Bank is planning to set up wealth centers in various places to scientifically arrange and match funds for middle and high-end customers, so as to ensure that customers have stable income without taking high risks. The expert team conducts professional analysis on the risks of the stock market, funds, economy and products. Wealth experts help clients arrange funds and provide advice, which is much more professional and rational than their personal behaviors, such as listening to gossip and following the trend.

Reporter: In recent years, the private banking business of foreign banks has also received a lot of attention, and they are undoubtedly more experienced. Then, what advantages does the wealth center of China Everbright Bank have compared with the private banks of foreign banks?

Janet Li: Compared with foreign banks, we are more familiar with China's national conditions and know what the public needs. In addition, compared with this, we are more familiar with the RMB market, and most customers know less about other foreign exchange markets. Therefore, it is not easy to promote foreign exchange products promoted by foreign banks among domestic customers. On the contrary, the products we mainly promote in the Hong Kong market have more advantages. In addition, foreign banks have introduced foreign investment model into China market, and whether this model is suitable for China market needs to be verified. For the above reasons, we still have great confidence in our wealth center.