New research from Renmin University shows that Alibaba created more than 40 million jobs in the Chinese economy, from supply chains to retail, Sina Technology reports.
Those capitalizing on the booming e-commerce sector are mostly millennials. More than 60% of vendors on Taobao are aged 30 or under.
Live streaming also grew significantly on Taobao. The number of merchants using live videos to market their products increased by over 60%. Furthermore, more than 100 live streamers earned over RMB 1 million per month; most of them were born in the 1990s or later.