The Sharing Economy Research Center of the National Information Center has released its sixth annual “China’s Sharing Economy Development Report (2021)”.
We’ve picked out some of the key findings:
- The scale of China’s sharing economy reached 3,377 billion RMB ($522 billion) in 2020, an 2.9% increase year-on-year.
- ‘Life services’ (1,618 billion RMB), ‘production capacity’ (1085 billion RMB), and ‘knowledge and skills’ (401 billion RMB) were the three fields with the highest value within China’s sharing economy.
- 830 million people participated in the sharing economy in 2020, of which approximately 84 million were service providers.
- The growth rate of the sharing economy declined significantly in 2020 due to the impact of the pandemic. However, it is expected to rebound to a rate of 10-15% in 2021.
- Over the next five years, the average annual growth rate of China’s sharing economy is predicted to remain above 10%.
Read more about China’s sharing economy: