BEIJING — Investment and wealth management received increased popularity among Chinese as the proportion of people purchasing such products continued to grow, a report from the central bank said.

The ratio of adults who had put their money into the wealth management market averaged 47.81 percent in 2018, up 1.84 percentage points year-on-year, while the ratio in rural areas rose 3.32 percentage points to 36.11 percent, data from the People's Bank of China showed.

Those in developed areas, including Shanghai, Beijing and East China's Zhejiang province, had a stronger awareness of investment and money management, with over 60 percent of residents having invested in related products.

Investment and wealth management products studied in the report included investment products developed by banks, treasury bonds, funds, stocks and various tools provided by online platforms.

According to the central bank's surveys, financial literacy among Chinese people improved last year, but consumers still need to get better educated about new or sophisticated financial products, build up financial planning skills and enhance risk management abilities.