Sharing economy to grow further

Growing segment: Bike sharing firms are among those flourishing in the sharing economy era in china. — Bloomberg

CHINA’S shar­ing econ­omy mar­ket will main­tain an an­nual growth rate of over 30% in the next three years, thanks to the pub­lic’s ac­tive par­tic­i­pa­tion, gov­ern­ment’s pol­icy sup­port and ma­ture busi­ness mode, a new re­port said.

The re­port, re­leased re­cently by the Shar­ing Economy Re­search Cen­ter un­der the State Informa­tion Cen­ter, showed that in 2018, the transac­tion vol­ume of China’s shar­ing econ­omy mar­ket reached 2.94 tril­lion yuan (US$437.5bil), up 41.6% on an an­nual ba­sis.