China Daily
China’s sharing economy transaction scale reached around 3.69 trillion yuan ($583.77 billion) in 2021, up 9.2 percent from a year earlier, with a direct financing scale of about 213.7 billion yuan, up 80.3 percent year-on-year, according to the latest China Sharing Economy Development Report released recently by the State Information Center.
However, the report pointed out that the market of sharing economy in China saw imbalanced development: sharing in office space, production capacity and knowledge-and skill grew relatively fast, with transaction scales up 26.2 percent, 14 percent and 13.2 percent year-on-year respectively ; while the transaction of shared accommodation dropped 3.8 percent from 2020.
The shared services and consumption continue to play a stabilizing role in China’s development, as per the report. In 2021, online take-out service accounted for about 21.4 percent of the total revenue of the nation’s dining industry, up 4.5 percentage points; online car-hailing accounted for about 31.9 percent of the total taxi passenger volume; shared accommodation accounted for about 5.9 percent of the nation’s guest house revenue.
