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Robust growth seen in accommodation market

China has reported robust growth in the sharing accommodation sector as market transactions surged 37.5 percent year-on-year in 2018, data from the State Information Center (SIC) showed. Last year, the combined turnover of the domestic sharing accommodation market stood at 16.5 billion yuan ($2.4 billion), with second-and third-tier cities witnessing fast expansion, the SIC said in a report. As China steps up support for its tourism industry and as more people are using their smartphones to book hotel rooms, the public's acceptance for and willingness to partake in sharing accommodation is rising. From 2015 to 2018, the sharing accommodation sector contributed 2.1 percentage points to the annual growth of China's accommodation sector. About 70 percent of those offering sharing accommodation services are those born in the 1980s and 1990s, the report said.

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