The 4th Think Tank Lecture of Shanghai Academy was held at China Financial Information Center on June 16. Famous economist Wang Fuzhong and Li Jianhua, Chief Development Officer of Didi, were invited to give keynote speeches under the theme “Innovation and Integration of the Sharing Economy”, offering in-depth analysis of the theories and practice pertinent to the sharing economy.

In the opening speech, Yang Huijun, Head of the Secretariat of Shanghai Academy, pointed out that more and more Chinese people are joining in or benefiting from the rising trend toward the sharing economy, and noted that Shanghai is a pioneer city in the development of the sharing economy. China has seen many economic miracles over the past three decades, and the sharing economy is set to become another phenomenal economic miracle like real estate or the stock market.

Wang Fuzhong proceeded from collaborative consumption, the predecessor of the sharing economy, and noted that the sharing economy is a new form of economy aimed at making use of idle resources through technological platforms, after information asymmetry is solved and transaction cost is lowered. The breakthroughs and spread of the Internet and information technologies play a decisive role in driving its development. This new form of economy disrupts the normative business model that developed following the industrial revolution, in which consumers obtain commodities or services from enterprises, and enables individuals to mutually provide commodities or services to each other. Meanwhile, participation in the sharing economy is historic, in that it will change everyone into a good service provider, and thus improve the service quality in China as a whole. He said the sharing economy not only improves the efficiency of resource utilization, innovates the mode of consumption and creates a green model for sustainable development, but also provides an important power to drive innovation in the new normal economy. It’s a major approach for adjustment of the economic structure, and will chart a course for China to create a new economy and the next miracle. So, the change that the sharing economy brings to humanity is just beginning, and the future will be promising.

Li Jianhua gave a speech centering on three aspects, i.e. “what is the sharing economy”, “how to construct the business model of the sharing economy” and “the challenges facing the sharing economy”. He proposed three ideas about the development of the sharing economy. First, whether new technologies can provide opportunities for overall industrial improvements is fundamental to the implementation of the sharing economy. He said the extensive application of Didi depends largely on technological development. Second, public demand is also key to the implementation of the sharing economy. All supply-demand relationships rely on demand, and only demand can make an industry grow. Third, consumer pain points need to be identified, and, with the pain points as the objectives, improvements shall be made to bring sound experience to consumers. He also noted that the sharing economy is integrated into the daily life of citizens little by little. Sharing is seen everywhere, from travelling to housing, from knowledge and skills to fund surplus, from life services to production abilities, and creates ubiquitous opportunities and infinite possibilities for innovation.

Representatives from organizations including Huangpu District Committee of China National Democratic Construction Association attended the think tank lecture. During Q&A, the audiences and guest speakers at the site held lively discussions about hot issues including government regulation and support, the morality and quality of citizens, directions for corporate innovation and construction of a credit-based society, which effectively raised public recognition of the prospects of the sharing economy.

The think tank lecture attracted an audience of more than 400, including scholars and experts from all walks of life and white collar workers from enterprises and public institutions, and achieved good social results.

By Xie Nini