FOR IMMEDIATE RELEASE
Citigroup Inc. (NYSE: C)
April 28, 2007
Citi Youth Investment Education Survey Reveals How Hong Kong Students Manage their Money
Hong Kong Citi shared the findings today of a survey among secondary school students in Hong Kong showing that 14% of respondents have already started investments, and 45% believe investing in the stock market could be an effective way to create wealth.
The survey is part of the Citi Youth Investment Education Program 2007 that teaches secondary school students how to make smarter financial decisions and become more financially responsible ahead of entering the workforce or moving on to further education.
The Program is organized by Citi and Hong Kong Economic Times School Economic Times, sponsored by Citi Foundation, supported by the Education and Manpower Bureau of HKSAR and Learning Society, a not-for-profit organisation that promotes innovation in education. It builds on the Citigroup Stock Challenge that has been successfully run in Hong Kong for the past three years.
Citi Youth Investment Education Program 2007 proved a popular one with more than 1,800 students from 155 secondary schools involved in its activities that included investment seminar, workshops, an online stock trading game and a Financial Quotient (FQ) workshop.
Speaking about the program and the survey, Ms. Betty Tsoi, Regional Director, Customer Experience & Loyalty, Asia Pacific, Citibank, said, The keen participation of students in the program and survey reflects an awareness among Hong Kong youth about the importance of financial education.
Besides the reasonably high investment awareness finding, we were delighted that 80% of the students surveyed said they had gained a better understanding about financial markets and financial management basics through Citi Youth Investment Education Program 2007.
Its pleasing to know that our programs are having an impact and Citi will continue to promote financial education in Hong Kong, dedicating to support and implement initiatives that help students to make sound financial decisions in the future.
Other survey finding highlights:
- More than 50% of students kept their money in saving accounts, followed by investments (14%), piggy banks (13%) and left with parents (10%);
- 45% believed investing in the stock market could be an effective way to create wealth, followed by property (18%), foreign currencies (12%), HK dollars (9%), and jewelry (3%);
- More than 50% said an annual return of 5% or more for an investment was acceptable. 20% also stated that annual returns should match or better the inflation rate, and the others believed returns should be higher than fixed deposit and saving accounts;
- Through the online trading game, 47% of students listed themselves in the moderate risk taker category, 38% were high risk takers and 15% were low risk takers;
- More than 80% of the online traders said they conducted analysis and took economic data, and expert investment advice into consideration before making an investment decision.
A Financial Quotient (FQ) workshop and an award presentation ceremony held today marked the finale of Citi Youth Investment Education Program 2007 and a team of three students from Yan Oi Tong Tin Ka Ping Secondary School Team F (Lower Form) and Lions College Team B (Upper Form) took home the top honors.
Results:
Lower Form (F.4-5)
Winner: Yan Oi Tong Tin Ka Ping Secondary School Team F
Outstanding Performance:
- Christian Alliance Cheng Wing Gee College of the Kowloon Tong Church of the Chinese Christian and Missionary Alliance, Hong Kong Team B;
- Baptist Wing Lung Secondary School Team D
- Cognitio College (Kowloon) Team D
- Sheng Kung Hui Bishop Mok Sau Tseng Secondary School Team E
- Church of Christ in China Tam Lee Lai Fun Memorial Secondary School Team E
Upper Form (F.6-7)
Winner: Lions College Team B
Outstanding Performance:
- Wong Shiu Chi Secondary School Team C
- Lions College Team A
- Church of Christ in China Fung Leung Kit Memorial Secondary School Team A
- Cheng Chek Chee Secondary School of Sai Kung and Hang Hau District, N.T. Team A
- Hang Seng School of Commerce Team D
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Citi
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi's major brand names include Citibank, CitiFinancial, Primerica, Citi Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.
Citi Foundation
The Citi Foundation focuses its grants primarily in three areas: financial education, educating the next generation, and building communities and entrepreneurs. Additional information can be found at www.citigroupfoundation.com.
Citi Financial Education Program
Based on the belief that knowledge is your greatest asset, the Citi Financial Education Program is a global, company-wide effort to identify, support and implement initiatives that help give individuals, families and communities the tools needed to make sound financial decisions. Citi's 10-year, $200 million global commitment is focused in three areas: Personal, Small Business and Institutional Financial Education. Additional information about Citi Financial Education Program, including Citi Foundation guidelines, links and resources and the Citi Financial Education Program Curriculum and Facilitator's Guide may be found at http://financialeducation.citigroup.com.