'Sharing economy' seen as next big force

Ma Huateng, founder, chairman and CEO of Tencent Holdings, will make five suggestions at the National People's Congress annual session, which opens on Saturday, in areas including the development of a sharing economy, Internet-based medical services and security of the Internet ecosystem.

The sharing economy will become a new driving force in China's economic growth and will help push the service industry as the main engine of the economy, said Ma, whose company is China's largest Internet service portal.

Sharing economy refers to a phenomenon where individuals share their spare resources via third-party online platforms to make money. Ride-sharing service apps Uber and Didi Kuaidi and lodging website Airbnb are examples of popular online platforms for the sharing economy.