Generation Y is main force of online shopping

The post-1980s generation is becoming the backbone of the Chinese economy, not only because of the growing contribution they make in the workplace, but also the money they spend online, new research shows.

Those aged between 26 and 35 referred to as Generation Y, have established themselves as the powerhouse of China's increasingly consumption-driven economy, said the study, jointly produced by online shopping platform Taobao and CBNData, the business data research center attached to financial news outlet China Business Network.

The report showed those aged below 28 contributed 40 percent of the transactions on Taobao, which is owned by e-commerce giant Alibaba Group Holding Ltd, and the proportion is rising.