Insurance would boost sharing economy

The introduction of business insurance protection will allow sharing economy platforms in China to flourish, according to industry specialists.

China's sharing economy is developing rapidly as the government promotes the use of technology to leapfrog the brick-and-mortar economy.

Since assets in the sharing economy are fragmented - as they are owned and shared among various parties - many sharing economy platforms in China are considering whether to provide business insurance solutions for their services so that consumers can feel more confident in adopting sharing services.