Chinese Premier Li Keqiang Encourages Sharing-Economy Business Models

The emergence of WeChat and shared bikes has not only changed how Chinese people communicate or get around; it has also created new channels for capital exchange. Business models that are new for China benefit from more efficient flows of information and money, but also pose new regulatory challenges and security concerns. As Fu Cong, who writes for China’s official government website, relays, Li Keqiang, China’s Premier of the State Council, believes that the government should prudently nurture the sharing economy by putting new legislative guidance in place. In China, businesses pay careful attention to the words expressed by government leaders. These statements from the top aren't just personal opinions, but signals of where the administration stands and whether upcoming policies will be friendly or hostile toward the industry in question. Many corporations take these statements as an indication how the wind blows and change tack accordingly. Although the article is lacking in terms of style and depth, getAbstract recommends it to trend watchers and entrepreneurs who covet a slice of the growing pie.