Sharing economy gets credit edge

Alibaba's arm Zhima waives deposit for trustworthy users renting bikes, cars and short-term housing

China's sharing economy has just been taken to a whole new level by Zhima Credit of Ant Financial, Alibaba's finance arm, making it even more citizen-friendly.

Users of apps that provide shared bikes and rental housing no longer need to pay any deposit upfront to avail the services, as long as their personal credit score is reasonable.