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Forum on sharing economy held during 4th CIIE to propel sector development

November 09, 2021


Abstract : The 2021 Forum on Norms and Development of Sharing Economy, jointly organized by the State Administration for Market Regulation and China Economic Information Service (CEIS), was convened in Shanghai on November 7 during the 4th China International Import Expo (CIIE).

BEIJING, Nov. 8 (Xinhua) -- The 2021 Forum on Norms and Development of Sharing Economy, jointly organized by the State Administration for Market Regulation and China Economic Information Service (CEIS), was convened in Shanghai on November 7 during the 4th China International Import Expo (CIIE).

The forum, which invited industry experts to express opinions on topics such as industry standards, corporate social responsibility, and government regulation and supervision, aimed to further boost coordinated development of China's sharing economy.

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Photo shows the scene of the 2021 Forum on Norms and Development of Sharing Economy.

In spite of the lingering influences of the COVID-19 epidemic, sharing economy has presented relatively strong resilience alongside the popping up of shared power banks, shared travelling, shared umbrellas, and even shared tissues, which brought huge conveniences to consumers and changed at the same time their consumption habits.

However, the frequently exposed abuse of consumer information and deliberate price rises have given rise to appeals for coordinated development and the sharing economy.

Yao Lei, deputy head of the Development Research Center of the State Administration for Market Regulation, said that sharing economy can play an important role in fostering startups and innovation, industrial upgrading, consumption market expansion and new growth driver enhancement.

But along with the new situations and problems that appeared in development of the sharing economy, strengthening sector governance allows no delay, noted Yao, highlighting also the importance of enriching law and regulation systems, creating sound institutional environment, reinforcing the business philosophy of legal compliance and fulfilling social responsibilities.

Statistics showed that market transactions of sharing economy grew nearly three percent year on year and approached 3.4 trillion yuan in 2020, with market participants at around 830 million.

Generally, sharing economy features three characteristics, super capacity, rapid expansion and big data and algorithm-based running and market regulators and supervisors shall be thoroughly aware of their own advantages and disadvantages in face the emerging sharing economy sector, held Ni Junnan, vice head of Shanghai Municipal Administration for Market Regulation.

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Photo shows Ni Junnan, vice head of Shanghai Municipal Administration for Market Regulation delivers a speech.

As sharing economy exerts more and more profound influences to the society, industry standards and law-based regulatory and supervisory means have been gradually optimized in China.

On the forum, the Development Research Center of the State Administration for Market Regulation unveiled the 2021 sharing economy standardization development report, which shows that China's new sharing economy-related standards numbered 48 in last year, up 71 percent year on year.

Some industry-leading enterprises have gradually taken part in formulation of standards of varied types, according to Yao.

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Photo shows Yao Lei, deputy head of the Development Research Center of the State Administration for Market Regulation, releases the 2021 sharing economy standardization development report.

Yu Xinli, chairperson of China Association for Standardization and chairperson of the National Technical Committee on Sharing Economy Standardization (SAC/TC 587), said that China's recently-released national standardization development guidelines serve as an action guide for the reform and innovation of standardization to service economic and social development.

To implement the guidelines, attention shall be paid to integrate the significant meanings of its promulgation, guiding principles for standardization development and the main direction of standardization work, added Yu.

As for data security legislation, China has explicit regulations on data resources in cyberspace as the data security law and personal information protection law have entered into effect and the future laws will focus on providing sound protection to cyberspace participants, said Hong Yanqing, professor of School of Law of Beijing Institute of Technology and member of National Information Security Standardization Technical Committee.

In the digitalization era, network effects have been further strengthened, which requires strengthening of regulation over not only data, but also the algorithm, computing power and capital in regulating online platforms, reckoned Shi Jianzhong, vice president of China University of Political Science and Law (CUPL) and head of the Institute of Digital Technology and Law of CUPL.

"Science and technology innovation should have boundaries and capital expansion must keep the bottom line. While adhering to both technological innovation and technological improvement, related parties shall also improve the system and rules that adapt to new technologies and new applications, and control unfair competition in accordance with laws and regulations to prevent platform monopoly and disorderly expansion of capital," said Liang Zhiyong, vice president and board director of CEIS.

To press ahead with the orderly and healthy development of China's sharing economy, CEIS and the Development Research Center of the State Administration for Market Regulation launched together with part of the related enterprises an initiative to call for strict abidance of related laws and industry regulations and active fulfillment of corporate social responsibility by sharing economy companies.

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Photo shows part of the enterprise representatives issue a proposal for the sharing economy industry to fulfill corporate social responsibilities and social missions. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)

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Keyword: CIIE 2021 Forum on Norms & Development of Sharing Economy

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