So, as you can see from the slide just in 2017 that is
another milestone for the circular economy policies. So,
there are actually several policies was released in that
year. First, starting in January, we can see the Extended
Producer Responsibility, EPR, was put in place. So sectors
like electronics, automobile, batteries, and the packaging
products were chosen as priorities. Next big step up was
the circular economy development leading action launched in May.
And overall, it aims to take circular economy into account
through a broader value chain and leverage the digital
revolution to achieve that. While we're speaking of the
digital revolution we cannot not... we can't not mention the
sharing economy in China. So responding to the booming
sharing economy, the first guideline on promoting sharing
economy was released in July. It acknowledged the new business
model in China, which is a service over ownership and its
potential for improving resource efficiency and utilisation.
Having said that, the sharing economy was actually booming
even before all these policies were laid out. The best... the
best known example probably is Mobike, which was launched back
in 2016. And has a reach even beyond China.