WEBVTT

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So, as you can see from the
slide just in 2017 that is

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another milestone for the
circular economy policies. So,

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there are actually several
policies was released in that

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year. First, starting in
January, we can see the Extended

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Producer Responsibility, EPR,
was put in place. So sectors

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like electronics, automobile,
batteries, and the packaging

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products were chosen as
priorities. Next big step up was

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the circular economy development
leading action launched in May.

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And overall, it aims to take
circular economy into account

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through a broader value chain
and leverage the digital

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revolution to achieve that.
While we're speaking of the

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digital revolution we cannot
not... we can't not mention the

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sharing economy in China. So
responding to the booming

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sharing economy, the first
guideline on promoting sharing

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economy was released in July. It
acknowledged the new business

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model in China, which is a
service over ownership and its

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potential for improving resource
efficiency and utilisation.

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Having said that, the sharing
economy was actually booming

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even before all these policies
were laid out. The best... the

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best known example probably is
Mobike, which was launched back

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in 2016. And has a reach even
beyond China.