En­cour­ag­ing Shar­ing Econ­omy

ChinAfrica - - Business Numbers -

A guide­line to fur­ther boost the blos­som­ing of the shar­ing econ­omy was ap­proved at a State Coun­cil Ex­ec­u­tive Meet­ing chaired by Chi­nese Pre­mier Li Ke­qiang in late June. Ac­cord­ing to the guide­line, the sec­tor will en­joy eas­ier ac­cess, greater pol­icy trans­parency and bet­ter pro­tec­tion of le­git­i­mate rights of plat­form com­pa­nies, re­source providers and con­sumers. The guide­line is aimed to cre­ate an en­abling en­vi­ron­ment for sus­tained in­no­va­tion. “We should give credit to the shar­ing econ­omy as a rein­vig­o­rat­ing force in China’s eco­nomic growth,” said Li. China’s shar­ing econ­omy is likely to sus­tain a 40 per­cent an­nual growth mo­men­tum in the com­ing years, ac­cord­ing to a re­port re­leased in Fe­bru­ary. The re­port said the mar­ket turnover of the coun­try’s shar­ing econ­omy in 2016 reached 3.45 tril­lion yuan ($505 bil­lion), up by 103 per­cent year on year. In 2016, the shar­ing econ­omy served around 600 mil­lion peo­ple in China.

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