Online wealth management. Photo: iStock
Online wealth management. Photo: iStock

As of June 2018, the number of Internet users in China reached 802 million, with a penetration rate of 57.7%, Economic Daily reported.

The number of mobile Internet users in China reached 788 million, and the proportion of Internet users accessing the Internet through mobile phones was as high as 98.3%.

On the one hand, e-commerce and mobile payments continue to popularize, with 71% of Internet users shopping online and using online payment methods.

E-commerce, social media and digital content are also integrated with each other. The social e-commerce model has expanded the business scope of e-commerce and e-commerce firms have launch diversified shopping scenarios with digital content.

On the other hand, new sectors spawned by the Internet are undergoing the tightening of regulations.

For example, as an increasing number of Internet users adopt the habit of managing their wealth online, supervision of money funds, internet banking and P2P online lending have been further strengthened.

In the past half year, the usage rate of online wealth management services has increased to 21% from 16.7%, with the number of Internet financial users up by 39.74 million.