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On July 26, 2024, at the invitation of the Xinjiekou Street Party and Mass Service Center, a number of business backbones from the Beijing Branch of China Guangfa Bank conducted a financial education activity for more than 30 retired residents in the local community.

Talking about the original intention of this event, relevant staff of Xinjiekou Street said that in daily communication, they often found that although many elderly citizens have had experience in financial investment, they generally lack understanding of financial knowledge and financial risks. In order to further improve community service, they came up with the idea of ​​inviting experts to give lectures.

The employees of China Guangfa Bank who participated in the event generally have rich front-line work experience and financial education experience. As soon as they arrived at the scene, they conducted a "financial physical examination" for everyone and quickly discovered the "symptoms" - it turned out that most of the questions raised by community residents were like this:

Which products are the most profitable? Are there any financial products with stable returns? Will the bank compensate for losses? What risk level do retired people belong to?

Through these questions, bank workers quickly realized that many elderly citizens have a simple and one-sided understanding of financial investment: they often confuse the difference between deposits and financial management, and understand expected returns as interest; they usually use expected returns as the only criterion for evaluating financial products, without comprehensively considering risk factors and their own risk tolerance...

Afterwards, the bank employees began to "prescribe the right medicine" and focused on explaining to everyone the "Principle of Appropriateness in Protecting the Rights and Interests of Financial Consumers", namely: clarify investment goals - set clear investment goals and expected returns based on your own financial situation and future plans; make prudent decisions - before purchasing financial products, you should not only understand the characteristics and risks of the products, but also make a comprehensive judgment by comparing the products and services of multiple financial institutions; continue to pay attention - even if you have purchased financial products, you should regularly pay attention to the operation of the products and market changes, so as to adjust your investment strategy in a timely manner.

During the event, bank workers also conducted financial education on knowledge points such as deposit insurance, prevention of telecommunications fraud, and RMB anti-counterfeiting.

Mr. Zhang is a retired citizen from a local street. After receiving a "financial checkup", he happily said:

"I used to think that putting my savings in a fixed deposit was a bit of a loss, so I would rather buy some 'high-yield' products. But we old people can't understand the contracts and concepts in the bank, and there are too many people at the bank branches, so we are embarrassed to ask too many questions. This time, the expert came to explain to us and helped us to clarify what risk preference, risk tolerance, investment goals and liquidity are. Now I understand that buying financial products is definitely a technical job, and you must study it carefully, otherwise your hard-earned money may suffer losses."

The organizer of the event from China Guangfa Bank Beijing Branch said that in recent years, according to the requirements of the State Financial Supervision and Administration Bureau, the "old and young" have become the key groups for financial education. At present, through daily work accumulation, China Guangfa Bank has been able to quickly understand the cognitive "blind spots" of customers through a few simple questions for different groups, grasp the key issues in the form of "financial physical examination", and thus better improve the effect of financial education.