Center on sharing economy established

The Research Center on the Sharing Economy was established recently by the State Information Center under the National Development and Reform Commission of China in Beijing. The center also released a Report on China’s Sharing Economy in 2017. The report suggests the transaction volume of China’s sharing economy in 2016 was about 3.45 trillion yuan, an increase of about 103 percent over the previous year. About 600 million people were involved in the sharing economy, and 60 million people provided services under it. The report suggests that the development of the sharing economy is vital to implementing the strategy of prioritizing employment. The population of service providers in the sharing economy will reach 100 million by 2020, among which 20 million will be employed fulltime, effectively relieving the employment pressure brought by the slowdown of economic growth and technological advancement, according to the report.