In this undated file photo, consumers are seen at a shopping center in Kunming, Yunnan province, China. (PHOTO / XINHUA)

The scale of China's consumer finance market will amount to 25 trillion yuan ($3.5 trillion) by 2027, with annual growth rates reaching about 7 percent in the next five years, according to a report released by global consultancy Boston Consulting Group.

The report said the number of customers and penetration rate of China's consumer finance industry has reached a plateau, while the increase in credit scale of existing clients will become a driving force bolstering the development of this sector.

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Tammy Tan, managing director and partner of BCG, said consumer finance not only involves a category of product, but also covers a complete business system, including marketing, product, risk control, operation and organization. Tan added that the systematic construction of entire business models is the top priority.

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Consumer finance institutions should take differentiated strategies targeting different groups of clients; strengthening systematic, automatic and digitalized risk control capacities; as well as attract younger consumers, the report added.