The market size of China’s sharing economy exceeded 3.2 trillion Yuan (470 billion dollars) in 2019, growing by 11.6 per cent year-on-year, a development report has said.
The report released by the Sharing Economy Research Centre under the State Information Centre on Thursday, said that in 2019, about 800 million people in China participated in the sharing economy.
The report disclosed that about 78 million of the people that participated in the sharing economy were service providers.
It said that transportation, catering and short-term house renting posted strong growth in 2019.
“Over the past few years, China has witnessed rise of the sharing economy, one where people use the internet and mobile technologies to access goods and resources provided by their peers, rather than a traditional corporate vendor.
“China’s sharing economy covers a wide range of fields, from life services such as travel and accommodation to industrial production, agriculture and other production,’’ the report explained.
