In order to deepen the understanding of the present situation of Chinese residents' financial literacy, provide the basis for relevant policy formulation and implementation, improve the public awareness of the financial literacy education, the "China Residents Financial Literacy Research Seminar 2018 was held by the Financial Literacy Education Research Center and the School of Business of the Beijing Normal University today. Professor Sun Zhijun, secretary of the branch party committee of the Business School of the Beijing Normal University, Su Song, director of the Financial Literacy Education Research Center and other experts from various Chinese organizations and universities attended the conference.

A group photo of the attendees of the China Residents Financial Literacy Research Seminar 2018.

The conference released the results of a nationwide survey of residents' financial literacy in 2018, conducted by Su Song, director of the Financial Literacy Education Research Center at Beijing Normal University. The survey was guided by the Consumer Insurance Bureau of the Bank of China insurance regulatory commission and supported by Beijing Normal University, Visa and China Fortune Online Financial Business APP. The Survey conducted investigations in areas of basic personal and family situation, the role of financial management, financial management, financial planning, financial products and services, financial behavior motive, source of income, financial information and advice to obtaining, knowledge of finance and economics, finance and economics related attitudes and values, etc., which made the content of the "2018 China White Paper on Residents' Financial Literacy". (hereinafter referred to as the "white paper").The white paper takes financial knowledge, financial application ability and financial values as the core evaluation dimensions and constructs a comprehensive index of financial literacy of Chinese residents. China's economy is undergoing a historical transformation from "high-speed growth" to "high-quality development", the white paper said. Residents' financial literacy will play an important role in this historical process. The current financial and economic literacy of Chinese residents is characterized by low level of financial and economic knowledge, outstanding ability to "keep money", and insufficient ability to "use money". Therefore, financial and economic values need to be guided. Therefore, on the whole, China's residents' financial literacy needs to be improved. The white paper proposes to improve the financial literacy level of Chinese residents from the establishment of responsible institutions to improve financial literacy education, the establishment of a multi-level financial literacy training system, and the combination of financial literacy training and inclusive financial development.

At the meeting, Professor Sun Zhijun, the party secretary of the School of Business fully recognized the results of the survey on residents' financial literacy, and stressed the necessity of establishing evaluation standards for Chinese residents' financial literacy.

Professor Shang Zengjian, deputy editor-in-chief of Management World, affirmed the significance of the white paper to popularize financial and economic literacy education, and pointed out the beneficial influence of popularizing financial and economic literacy education to improve the well-being of the country and the residents from three aspects of "serving the country, serving the people and serving academic research".

At the end of the meeting, all the attended leaders and experts analyzed and exchanged on the investigation results, reviews the achievements of theory and practice of financial literacy education in our country, and further discusses the opportunities and challenges that the residents' financial literacy education face.