(Yicai Global) April 21 -- Residents in the Chinese mainland have a more positive attitude towards retirement planning than those in other markets across Asia, according to a survey by Canadian insurance giant Manulife.

Three quarters of mainland respondents view retirement planning positively, beating the regional average of 68 percent, the latest Manulife Asia Care Survey showed today. At 78 percent, the figure is even higher among 35- to 44-year-olds, it added.

The survey covered consumers on the mainland, the Hong Kong Special Administrative Region, Indonesia, Malaysia, the Philippines, Singapore, and Vietnam, with a total of 7,224 people aged 25 to 60 years taking part. On the mainland, 1,042 people were polled.

The survey reflects strong demand in China for high-quality financial products that help consumers plan for the future, according to Zhang Kai, chief executive of Manulife-Sinochem, a joint venture of Manulife and China’s Sinochem Finance.

Some 70 percent of mainland responders said personal insurance plays an important part in their retirement planning, the highest in the region, beating the 59 percent average, according to the survey. Cash savings and bank deposits are still the main tools to achieve their financial goals, accounting for 82 percent.

The survey revealed that mainlanders expect to retire at an average age of 59, while anticipate poor health to set in at 63, showing a growing concern about their health condition. Younger people are more pessimistic, as those aged 25 to 34 anticipate poor health setting in at 56, before they retire.

“We’ve been keeping a close eye on Chinese consumers’ growing need for integrated health protection,” said Zhang. “To meet such demand, we have successfully developed a holistic health ecosystem that offers our customers a comprehensive health management solution, one that runs from wellness and prevention to medical diagnosis, treatment and recovery.”

Editor: Peter Thomas