Summary of China’s Sharing Economy for Traveling Still Has a Long Way to Go

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China’s Sharing Economy for Traveling Still Has a Long Way to Go summary
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Although some critics say what passes as sharing in China is just old-fashioned renting, China’s sharing economy has been booming in recent years. Chinese consumers are sharing bikes, basketballs and napping pods. However, China’s travel industry hasn’t quite caught on. Zuoyu Capital CEO Alex Wang blames a shortage in high-quality, diverse travel-sharing services in the country. getAbstract recommends this article to those curious about how existing industries can catch up on trends.

In this summary, you will learn

  • How to define and characterize the sharing economy,
  • Why the sharing economy hasn’t taken off in China’s travel industry and
  • What developments would facilitate the sharing trend in China’s travel sector.
 

About the Author

Alex Wang is the CEO of Zuoyu Capital, an institute that specializes in China’s travel industry market research. Wang was previously a senior research analyst and research director at iResearch, where he supervised more than 20 research projects.

 

Summary

In a sharing economy, people use or reuse an asset or a service, allowing the owner to offer it on a larger scale to the masses. The asset owner is also a user of the shared service or product. Otherwise, the business model would be no different from a rental service. To reach economies of scale and create the large customer base that the economies of sharing require, you need an oversupply of the shared asset.

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