State Information Center: transaction value of sharing economy exceeds three trillion yuan in 2019

China’s sharing economy market transaction reached 322.8 billion yuan in 2019, an increase of 11.6% over the previous year, according to the China Sharing Economy Development Report (2020) issued by the Sharing Economy Research branch of the State Information Center on March 4.

China’s sharing economy market transaction reached 322.8 billion yuan in 2019, an increase of 11.6% over the previous year, according to the China Sharing Economy Development Report (2020) issued by the Sharing Economy Research branch of the State Information Center on March 4.

The top three contributors to the market are sectors in services, production capacity, and knowledge and skills, which contributes respectively 1.73 trillion, 920.5 billion, and 306.3 billion yuan to the sharing economy market, a year-on-year increase of 8.8%, 11.8%, and 30.2%.

In respect of financing, the direct financing amount of China’s sharing economy in 2019 was 71.4 billion yuan, a year-on-year decrease of 52.1%. The top three lies in the fields of knowledge and skills, life services, and transportation, respectively, at RMB 31.4 billion, RMB 22.15 billion, and RMB 7.87 billion.

From the perspective of development speed, shared accommodation, knowledge and skills, and shared medical care grew fastest, increasing by 36.4%, 30.2%, and 22.7% respectively over the previous year.

In 2019, the online taxi-hailing passenger volume accounted for 37.1% of the total taxi passenger volume, a year-on-year increase of 0.8 percentage points. The online takeaway revenue accounted for 12.4% of the national catering revenue, an increase of 1.5 percentage points.

The report also shows that from 2016 to 2019, the popularity rate of online taxi-hailing among netizens has risen from 32.3% to 47.4%. For online takeaway, the percentage has increased from 30% to 51.6%, and an increase from 5% to 9.7 % for shared accommodation, 14% to 21% for shared medical care.

In 2019, about 800 million people in China have taken part in the sharing economy, 78 million of which are service providers, 4% more compared to 2018.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/06/state-information-center-transaction-value-of-sharing-economy-exceeds-three-trillion-yuan-in-2019/.

Leave a Reply

Please Login to Comment