UBS: "Women Will Lead China's Consumption Growth Over the Next Decade"

[Image source=Yonhap News]

[Asia Economy Reporter Park Byung-hee] Swiss investment bank UBS has analyzed that women will lead the upcoming consumption boom in China.

According to Bloomberg News on the 9th (local time), UBS stated in a report released that day that women with increased income will account for 80% of the increase in China's consumer spending by 2030.

Chris Feng, UBS's Chief Analyst for China Consumption, said, "Over the past 20 years, women's education in China has greatly improved, and its effects will become apparent," adding, "Women will have the greatest impact on the increase in Chinese consumption." Analyst Feng also noted, "With expanded educational opportunities, the social status of Chinese women has risen, especially their status in the workplace has significantly improved."

Analyst Feng stated that by 2030, China's share of the global increase in consumption will be 27%, higher than the 19% share expected for the United States.

Analyst Feng predicted that the increase in single-person households and the expansion of women's economic capacity could change China's consumption structure. He also forecasted that sales of consumer goods such as pet products, health-related food and beverages, and beer will further increase.

This content was produced with the assistance of AI translation services.