The China University Media Union, together with Alipay, released a report on Chinese college students' spending. According to the report, nearly 92 percent of the post-90 generation made mobile transactions in 2016. The average amount of Alipay spending by Chinese college students was about 40,839 yuan (US$5,876), a growth of 97 percent year-on-year.

Among the top 50 colleges when ranked by spending on Alipay, Zhejiang College of Sports ranked first, with average individual transactions at 925. The average individual transaction of the top 50 colleges was 670.

Clothing purchases on Taobao.com accounted for 20.77 percent of Alipay spending. Communication fees ranked second, accounting for 11.02 percent. Cosmetics spending accounted for 8.04 percent, followed by digital products, outdoor sports products, shoes and cases, food, cellphone and furniture.

Meanwhile, transactions by female college students accounted for 56.65 percent of all Alipay transactions made by college students, compared with 43.39 percent by male college students. However, when it came to the total spending on Alipay, female college students' spending accounted for 49.78 percent, which was lower than 50.22 percent by male college students.

The report covered consumption data from more than 10 million college students in more than 4000 colleges in China.

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