UBSThe group said in a report on Friday that China's consumer spending is expected to increase by 5.3 trillion US dollars in the next 10 years. As women's income increases, they will be the main driving force behind consumption growth.

Christine Peng (Christine Peng), head of the Greater China consumer department of UBS's global research division, wrote in the report that by 2030, 80% of consumption growth will be driven by increases in women's income.

She wrote, “We expect Chinese women to have the greatest impact on China's consumption growth. We hope that the results of the remarkable progress made in the education of Chinese women over the past 20 years will be realized to improve their status in society, particularly in the workplace.”

UBS predicts that the sharp increase in household consumption in China over the next 10 years means that by 2030, China's contribution to global consumption growth will reach about 27%. In contrast, in the US, this share is expected to be 19%.

Peng also said that as the proportion of single households in China rises, the improvement in the financial situation of women may also change China's consumption structure. Spending in areas such as pets, health food, and beer will exceed other traditional consumption areas.