China rocketing on information superhighway

By Zhu Lingqing | | 2017-06-29 06:48

6. Innovative and vigorous sharing economy

China rocketing on information superhighway

A row of shared bicycles are parked in Shanghai, March 1, 2017. [Photo/VCG]

From shared-bicycles to shared phone chargers, various kinds of sharing economy platforms in China created a market worth 3.45 trillion yuan in 2016, a 103 percent increase from 2015, getting more than 600 million people involved in the sharing economy activities, according to a report released by the State Information Center (SIC).

China's sharing economy has attracted investment from the world, with the total financing in 2016 reaching 171 billion yuan, up 130 percent from 2015. The sharing economy market is expected to grow by 40 percent annually, accounting for more than 10 percent of China's GDP by 2020, SIC predicted.

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