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China aims to improve sharing economy

Improvements may soon be coming to China’s sharing economy, with the National Development and Reform Commission soliciting public advice on a sharing economy guideline.

The guideline aims to encourage different market players to explore their own sharing models, and is intended to break industrial and geographic barriers to better develop the sharing economy.

The guideline is also designed to standardize entry barriers and streamline administrative approvals.

Management consulting firm Roland Berger says China has already developed a sharing economy worth $62.5 billion, and that number could grow to $230 billion by 2018.