Chinese family is very important as it provides a safety net to individuals when the state won't help.In one same Chinese family, family members help each other. Family members lend money and share a lot.
A shared family bank account...
I would like to give some example of this family mutual assistance.
A friend once told me that each month he saves money.
He saves this money in a shared bank account. It a bank account for the whole family!
On this bank account, each month, several family member will save their money: parents, children, brother in law...
... as a safety net against hardships!
When a family member encounters some difficulty and needs some money he can use the savings from this bank account.
For instance, a grandchild must pay for his studies abroad. He will use the bank account savings. Or when a family member is sick, the savings pay for the hospital costs. Or if a family member loses his jobs, he can use this money.
In fact sharing is the same as if you diversify some investment.
You minimize the risks because all family members help each other. The larger the family, the better, the less risks and the more money as well in one unique bank account!