Internet-based financial management platforms are becoming a major tool for young people in China, according to a report jointly released by internet giant Tencent and financial magazine New Fortune on Jan 9.

About 23 percent people born after 1990 choose internet-based platforms as their asset management tool, with the percentage of users born after 1980 is 10 percent, the highest two among all age groups surveyed.

According to the report, the potential of internet-based platforms is huge with young people rising to become the core strength of economic development.

Tencent's online financial management platform is a case in point. After operating for two and half years, it now has more than 80 million users with a total managed capital of over 100 billion yuan ($14.34 billion).

According to iResearch Consulting Group, by 2020, user numbers of internet-based financial management platforms are expected to reach 600 million in China with the capital hitting 6.5 trillion yuan.

Three young users born after 1980 and 1990 shared their experience of using internet-based financial management tool. [Photo provided to chinadaily.com.cn]