Enhancing financial literacy

BEIJING, Nov.19 (Xinhuanet) --The banking system shoulders a fundamental responsibility to promote customers' awareness about their products.

The global financial crisis has demonstrated that financial education, along with a well-capitalized and well-supervised financial system, is of critical importance not only to the economic welfare of households, but also to the better efficiency and functioning of financial markets, even to financial stability as a whole. Therefore, in recent years, financial education has gradually come into the limelight in both developed and developing countries.

Financial education, or financial literacy, refers to a person's ability to understand finance. Specifically, this concept is concerned with the financial knowledge and skills that allow people to be able to wisely manage their money in the modern world.

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