Chinese authorities pledge support to sharing economy · TechNode

Chinese authorities pledge support to sharing economy · TechNode

China’s National Development and Reform Commission (NDRC) has pledged greater support to the development of the country’s sharing economy and services including ride-hailing, as it introduces a 13-year plan aimed at expanding domestic demand. The NDRC also advocates for the development of live e-commerce services, with the document specifically mentioning the boosting of online tutorials. The reference is significant given the online education sector experienced a brutal shake-up last summer, with leading tutoring companies going out of business or having to perform abrupt pivots, such as New Oriental transforming into a live-streamed e-commerce platform. The highlighting of ride-hailing services also comes after market leader Didi was fined RMB 8.03 billion (US$1.2 billion) in July over its handling of user data; the company’s mobile app is still not available in app stores in China. [NDRC, in Chinese]

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