First, the analysis of the economic characteristics of the working class.
The working class refers to an economic group whose main source of income is relatively fixed labor remuneration from work units. They have similar economic characteristics, mainly in the following aspects: (1) The source of income is relatively single. For the working class, there are two main sources of income-work income and wealth management income. At present, most working-class people have a traditional concept of financial management, the overall domestic financial management conditions are not mature enough, and the financial management income is quite limited. Comparatively speaking, working income still accounts for a large proportion of the income of the working class, which is also an important basis for their financial management and a realistic condition that the working class needs to consider when investing in securities. (2) The investment concept is similar. At present, most working-class people have many worries about the future trend of social development. They believe that there are many uncertainties in their job prospects, children's future education, parents' retirement and health protection. Such a living condition determines that they have more requirements for the liquidity of funds and money, and the basic goals of investment are relatively consistent. (3) Consumption patterns are relatively diversified. According to Maslow's hierarchy of needs theory, working-class people begin to pay more attention to related projects that can improve their quality of life and upgrade their consumption level on the premise that their basic survival needs are met. They not only pursue tourism, fitness, beauty, entertainment, etc., but also have great differences in spending on education, real estate, automobiles, interpersonal relationship maintenance, etc., so they also have different requirements in the portfolio of securities investment strategies, which can make limited economic income be used to achieve greater effectiveness. (D) The overall risk tolerance of the family is relatively limited. Under the current social security mechanism, considering that the working class is limited by working years and economic conditions, the risk coefficient of the working class in all aspects is still relatively large. However, combined with the development of China's current securities investment market, it can be seen that it is difficult for working-class people to ensure a certain high return when investing in securities, so they often seem at a loss when they really face risks. From this point of view, more social and institutional factors should be added as variables when analyzing the securities investment strategy of the working class. (5) The working-class industries suitable for securities investment are relatively concentrated. Although the working-class itself is a concept with a wide coverage, not all working-class people can invest in securities because of the large income gap. According to the ranking of industry income levels in China over the years, employees in the financial industry, telecommunications industry, automobile industry, petroleum industry and other industries have higher incomes, so they can consider making moderate securities investment. At the same time, civil servants, teachers, doctors, employees of foreign companies, middle and senior managers of enterprises and other occupations can consider participating in securities investment activities. This paper will mainly focus on the working class who have the will and ability to invest in securities.