Chinese consumers overall confidence reached its highest level since the financial crisis, according to an annual survey by the Boston Consulting Group (BCG), an internationally renowned consultancy, published on June 29.

The report indicates that although China's economic growth has slowed down, incomes increase and consumers' optimism about the future revenue growth continuously give impetus to its consumption growth. Particularly, energetic "high-speed" family will rapidly increase consumer spending from 2015 to 2020.

The so-called "high-speed" family is mainly composed of middle-class and higher level families in urban areas of China. The number of existing "high speed" families in China reaches 81 million, and will be increased to 142 million households by 2020.

The report also points out that half of the consumers are quite reassuring about current situation, and believe that the future economic situation will get better and better. Thus these consumers will increase spending or upgrade consumption in the coming year. However, there are another half of consumers who lack of confidence. In the period of 2015 to 2020, less affluent urban consumers, namely the "low speed" families, will not have fast spending growth every year.

The article is edited and translated from《我国消费者信心达金融危机后最高水平》, source: Science and Technology Daily