Spring Festival cash goes online as transfer orders soar (2)

The post-1980s generation is the main user of online transfers.

Statistics from Alipay show 58.8 percent of the users transferring holiday money to Alipay accounts, and 70.5 percent of people transferring to bank accounts were from the post-1980s generation.

However, some people still prefer the traditional method of wrapping-cash in red paper for Spring Festival rather than online transfers.

"The red envelope also means good luck and best wishes to relatives and friends, not just the money inside," said Zhou Shuo.

Zhou, 28, a native of Beijing working at an IT company, said his parents do not care about how much money is in the festive package, but that the red envelope is part of the festive spirit in China.

Li Qilin, 26, who works in Beijing, agrees with Zhou.

"The process of putting money into a red envelope and giving it to your parents is kind of a ritual," Li said.

It is more important for the festive package to represent the children repaying the parents, showing the older generation that their children can stand on their own two feet rather than merely being the money inside, he added.