The young generation of Chinese born after 2000 has started purchasing pension products as elderly care is gradually becoming an issue for Chinese citizens nowadays, said a big data report released on Dec. 26.

The report was jointly complied by asset management platform Licaitong under China’s tech firm Tencent and a think tank under Tencent Financial Technology.

The report found that the average age users of the asset management platform was decreasing. At present, people born in the 1990s were the largest user group of the platform, accounting for 38 percent of the total, followed by those born in 1980s who took 35 percent of the share.

The post-80s generation is the most stressed group, as they are facing huge pressure from housing and car mortgages, the report noted.

People born between 1970 and 2000 are the largest user group of pension products on Licaitong platform. The report said that over 70 percent of post-80s and post-90s individuals believe elderly care will become a prevalent issue 20 years later.

Launched in 2014, Licaitong now has a user base of over 150 million people, attracting a total capital of 500 billion yuan.