Report: Online services consumption level soars

Services-related online consumption in China saw a surge in the past five years, said a report jointly released by the China Academy of New Supply-side Economics and research company Ant Financial, the financial arm of Alibaba Group Holding Ltd.

This year, the value of services-related online consumption accounts for 25 percent of the total. Back to 2011, it only took up 4.3 percent of the total, according to the report, which collected data from 450 million Chinese online consumers.

Over the past five years, people have bought increasingly more stuff online and get their services through online payments.