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00:00:00,240 --> 00:00:05,880
So, as you can see from the
slide just in 2017 that is

2
00:00:05,910 --> 00:00:10,980
another milestone for the
circular economy policies. So,

3
00:00:11,100 --> 00:00:14,880
there are actually several
policies was released in that

4
00:00:14,880 --> 00:00:21,150
year. First, starting in
January, we can see the Extended

5
00:00:21,150 --> 00:00:26,700
Producer Responsibility, EPR,
was put in place. So sectors

6
00:00:26,700 --> 00:00:31,740
like electronics, automobile,
batteries, and the packaging

7
00:00:31,740 --> 00:00:38,610
products were chosen as
priorities. Next big step up was

8
00:00:38,610 --> 00:00:43,560
the circular economy development
leading action launched in May.

9
00:00:43,740 --> 00:00:49,170
And overall, it aims to take
circular economy into account

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00:00:49,410 --> 00:00:54,090
through a broader value chain
and leverage the digital

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00:00:54,090 --> 00:00:58,740
revolution to achieve that.
While we're speaking of the

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00:00:58,740 --> 00:01:03,660
digital revolution we cannot
not... we can't not mention the

13
00:01:03,690 --> 00:01:08,310
sharing economy in China. So
responding to the booming

14
00:01:08,310 --> 00:01:13,320
sharing economy, the first
guideline on promoting sharing

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00:01:13,320 --> 00:01:19,230
economy was released in July. It
acknowledged the new business

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00:01:19,230 --> 00:01:24,120
model in China, which is a
service over ownership and its

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00:01:24,120 --> 00:01:28,830
potential for improving resource
efficiency and utilisation.

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00:01:29,490 --> 00:01:34,350
Having said that, the sharing
economy was actually booming

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00:01:34,380 --> 00:01:39,420
even before all these policies
were laid out. The best... the

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00:01:39,420 --> 00:01:44,130
best known example probably is
Mobike, which was launched back

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00:01:44,130 --> 00:01:49,110
in 2016. And has a reach even
beyond China.