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BEIJING, June 21-- A guideline to further boost the blossoming of sharing economy was approved at a State Council executive meeting chaired by Premier Li Keqiang on Wednesday. According to the guideline, the sector will enjoy easier access, greater policy transparency, and better protection of legitimate rights of platform companies, resources providers and consumers. The guideline is aimed to create an enabling environment for sustained innovation. "We should give credit to the sharing economy as a reinvigorating force in China's economic growth," Li said. "The country's sharing economy enabled by the Internet Plus has been instrumental in absorbing excess capacity and creating new jobs through its various new business models," he said. China's sharing economy is likely to sustain a 40 percent annual growth momentum in the coming years, according to a report released in February. According to the report, the market turnover of the country's sharing economy in 2016 reached 3.45 trillion yuan (about 505 billion U.S. dollars), up by 103 percent on a year-on-year basis. In 2016, sharing economy served around 600 million people in China. There were 5.85 million people who were on the payroll of sharing economy platforms, 850,000 more than 2017. "The regulation of sharing economy should be tolerant while prudent, as there is still much yet to be learnt about new business models. We should avoid simply applying traditional methodology on sharing economy," Li said. | 
