Recently, a wealth structure analysis report has attracted attention.

The data shows significant changes in China's wealth distribution over the past few years. The total assets of approximately 1.3 billion people accounted for 7% in 2023, dropping to 3% in 2025—meaning that in just three years, 4% of the total assets have been redistributed. This shift not only involves the total amount of wealth but also reflects a structural adjustment in the flow of wealth.

What is even more noteworthy is the trend among the middle class. Over the past decade, the total assets of the middle class have shrunk from a peak of 25% to now 13.7%, nearly halving. What does this indicate? It suggests that the ability to control production means is key to maintaining stable wealth. When economic cycles fluctuate, employment environments tighten, and consumption expectations adjust, middle-class groups without a real asset moat are most likely to be pushed back to their original state.

This phenomenon warrants deep reflection from every asset allocator. In the current economic environment, relying solely on wage income to sustain wealth growth is becoming increasingly fragile. Whether it is traditional assets or digital assets, how to optimize one's asset structure and enhance hedging capabilities has become a practical issue at hand.