The market value of China’s sharing economy sector reached 4.5 trillion yuan (about US$680 billion) in 2017, compared with 3.45 trillion yuan in 2016. It is expected to maintain an annual growth of about 40% over the next few years, according to China’s State Information Center.
Chinese are more engaged with the sharing economy, both as consumers of shared products and services, as well as providers of shared products and services, according to a survey conducted by Lloyd’s.
The survey questioned 5,000 consumers from China (2,000), UK (1,000) and the US (2,000), as well as representatives from 30 sharing economy companies.
According to the survey, the top five risks for consumers globally center on personal safety (52%), quality of service (42%), damage to assets (42%), theft (40%) and lack of sufficient safeguards in the event something goes wrong (38%).
Chinese consumers consistently cite fewer risks of shared economy services when compared to the global average, ...
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