China's sharing economy transaction reaches 3.28 trillion yuan in 2019

China's market for sharing economy is expanding, with the transaction volume reaches 3.28 trillion yuan in 2019, a report showed.

China's State Information Center (SIC) on Wednesday publishes the annual report on China's sharing economy development in Beijing.

Dr. Yu Fengxia, deputy director of the Sharing Economy Research Center of SIC, said that transaction volume of the sharing economy reached over 3.28 trillion yuan last year, up 11.6 percent year on year, according to the report by the SIC.

Shared accommodation is growing fastest, up 36.4 percent year on year, Yu added.

The growth rate of China's sharing economy will decline around 8 to 10 percent in 2020 amid the novel coronavirus epidemic, according to the report.