Premier Li Keqiang expressed cautious open-mindedness toward the future of China’s sharing economy during a Friday press conference of the Two Sessions, China’s highest-level annual political gathering.
In his speech, Li acknowledged the sharing economy’s positive impact on employment opportunities and life in China. He also said that internet-related businesses and the sharing economy would not be used to “camouflage” fraud.
As China’s internet user base and online consumption habits grow, sharing-economy projects can attract sizable investment, but are often risky. Shared-bike company Ofo’s fall from grace raised doubts recently regarding the sharing economy models’ profitability.
Li said that the market would test new sharing-economy models and naturally eliminate some, and that “fair” governance can further guide the industry’s “healthy development.”
Ultimately, he said, the sharing economy still offers “very big potential.”