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Economy

China's sharing economy market turnover grows 3.9 pct in 2022, SIC report

February 24, 2023


Abstract : China's sharing economy showed resilience and potential in 2022, with its market turnover up about 3.9 percent year on year, a report from the State Information Center (SIC) showed.

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Delivery couriers have a morning meeting in Yongding District of Zhangjiajie, central China's Hunan Province, Aug. 9, 2021.(Xinhua/Chen Sihan)

BEIJING, Feb. 24 (Xinhua) -- China's sharing economy showed resilience and potential in 2022, with its market turnover up about 3.9 percent year on year, a report from the State Information Center (SIC) showed.

The total market turnover stood at around 3.832 trillion yuan (about 552.8 billion U.S. dollars) last year, according to the SIC report on the development of China's sharing economy.

Shared services continued to play a crucial role in economic growth in 2022, the report said, citing an example that the revenue of online takeaway services took up approximately 25.4 percent of the total revenue of China's catering industry, which was 4 percentage points higher than the previous year.

The data showed that orders from China's online car-hailing companies accounted for about 40.5 percent of the total orders from taxi transportation, 6.4 percentage points higher than last year.

The revenue of sharing accommodation accounted for nearly 4.4 percent of the total revenue of China's hotel room services, down 0.6 percentage point from last year.

(Edited by Tian Shenyoujia with Xinhua Silk Road, tianshenyoga0524@163.com)

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Keyword: sharing economy

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