, Columnist
China Is the Future of the Sharing Economy
Conditions are ideal for the sector to thrive.
Chinese are comfortable with QR codes.
Photographer: Zhang Peng/LightRocket/Getty ImagesThis article is for subscribers only.
It's been an excellent few months for startups in China's sharing economy. Perhaps too good. The bike-sharing industry landed its first unicorn, and companies that allow phone users to share battery packs have raised at least $150 million in recent weeks. But at the same time, one startup recently announced that it expects to share at least 500,000 umbrellas in Guangzhou this year while a Jiaxing-based basketball-sharing company is getting positive coverage in the state media. No doubt, given the hype, they won't have trouble securing funding.