0:00:00.240,0:00:05.880
So, as you can see from the[br]slide just in 2017 that is

0:00:05.910,0:00:10.980
another milestone for the[br]circular economy policies. So,

0:00:11.100,0:00:14.880
there are actually several[br]policies was released in that

0:00:14.880,0:00:21.150
year. First, starting in[br]January, we can see the Extended

0:00:21.150,0:00:26.700
Producer Responsibility, EPR,[br]was put in place. So sectors

0:00:26.700,0:00:31.740
like electronics, automobile,[br]batteries, and the packaging

0:00:31.740,0:00:38.610
products were chosen as[br]priorities. Next big step up was

0:00:38.610,0:00:43.560
the circular economy development[br]leading action launched in May.

0:00:43.740,0:00:49.170
And overall, it aims to take[br]circular economy into account

0:00:49.410,0:00:54.090
through a broader value chain[br]and leverage the digital

0:00:54.090,0:00:58.740
revolution to achieve that.[br]While we're speaking of the

0:00:58.740,0:01:03.660
digital revolution we cannot[br]not... we can't not mention the

0:01:03.690,0:01:08.310
sharing economy in China. So[br]responding to the booming

0:01:08.310,0:01:13.320
sharing economy, the first[br]guideline on promoting sharing

0:01:13.320,0:01:19.230
economy was released in July. It[br]acknowledged the new business

0:01:19.230,0:01:24.120
model in China, which is a[br]service over ownership and its

0:01:24.120,0:01:28.830
potential for improving resource[br]efficiency and utilisation.

0:01:29.490,0:01:34.350
Having said that, the sharing[br]economy was actually booming

0:01:34.380,0:01:39.420
even before all these policies[br]were laid out. The best... the

0:01:39.420,0:01:44.130
best known example probably is[br]Mobike, which was launched back

0:01:44.130,0:01:49.110
in 2016. And has a reach even[br]beyond China.