Market value rises, jobless numbers tumble

The market value of China's sharing economy reached nearly 5 trillion yuan ($767 billion) last year, a rise of 47.2 percent from 2016, according to a report published by the State Information Center, a think tank, in February.

The report showed that the market for nonfinancial services, such as shared bikes and food deliveries, was more than 2 trillion yuan, a year-on-year rise of 66.8 percent.

More than 700 million people nationwide used services provided by the sharing economy last year, about 100 million people more than in 2016.