After announcing a Chinese name and appointing its China head earlier this year, Airbnb is moving one step further in its foray to explore the Chinese market. The US homestay giant, together with its Chinese partner Alipay, announced today Travel Deposit (旅行储蓄), a financial feature that will help China’s young travelers to save for their dream vacation.

Research conducted by Airbnb shows that spending on vacations accounts for a significant part of spending for China’s millennials. Upon a windfall gain, over 40% of the interviewees choose to spend it on traveling over investing in fixed assets. However, the key to any trip is being smart with your money – and that starts even before you hit the road.

After setting your destination, duration, and date of travel as well as the number of travelers on Alipay, the system will show the sum you have to save per day. It will also transfer the sum to Alipay’s mutual fund Yuebao automatically. Users can also share their travel plans through social networks like WeChat or Weibo.

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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.