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BEIJING, Feb. 8-- Financial literacy has become a catchphrase in China after decades of reform and opening up, with the country's economy becoming increasingly complex. "As China is building itself into a financial power, the financial literacy level of consumers is critical to the healthy development of the capital market," said Zhou Baoluo, chairman of Junior Achievement (JA) China, a non-profit organization with 25 years of experience in financial literacy education in China. "Although financial literacy has made much progress during the past decades, there is still large distance when compared with developed countries," Zhou said. When the first stocks were issued in China, in November 1984, the issuer had to solicit buyers with advertisements. Investors have since made huge progress in financial literacy along with China's economic take-off. An HSBC Bank report defines financial literacy as the ability to use knowledge and skills to manage financial resources effectively for a lifetime of financial well-being. Today it is more important than ever for Chinese people to become financially knowledgeable so they can avoid depreciation of assets. According to an annual research report made by the People's Bank of China (PBOC), the central bank, Chinese consumers' average score on the financial literacy index was 63.71, a medium-high level, but there were stark regional differences. The report was based on a questionnaire, the first of its kind made by the PBOC. The survey collected 18,600 samples nationwide, or about 600 financial consumers for each provincial-level region in the country. | 
