Despite the implementation of tougher taxation policies, China’s cross-border e-commerce sector maintained momentum thanks to the combined forces of consumption upgrading (消费升级) and the rise of a younger consumer group.

A recent report from Tmall Global and CBNData shows that the online sales value of imported goods maintained a growth rate of more than 30% in 2016. However, that is slower than the 40% growth seen in 2015. The online penetration of China’s total domestic import consumption also continued to rise.

Along with the growth, the market is recording a major shift in consumer demographics – there’s a notable increase in the number of young buyers (defined as those born after 1988). This group, which now accounts for nearly half of all consumption on Tmall Global, represents more than 50% of newly added customers on the platform in the past year, showing a healthy future for purchasing power, the report pointed out.

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.