Financials Jul 20, 2020 05:12 PM (GMT+8) · EqualOcean
Online payment platform Alipay, which is operated by Alibaba Group's (BABA:NYSE) fintech and Software-as-a-Service (SaaS) unit Ant Technology (formerly Ant Financial) in partnership with the Chinese Institute of New Economy published the 'Yuebao Post-90 Savings Report' on July 20. The per capita savings of China's 'Generation Z' in the first half of 2020 increased by nearly 40% year-on-year, per the report. The COVID-19 pandemic has deeply affected the behavioral patterns of the country's consumers.
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