Editorial : In a sharing economy, the government's foresight matters

【明報專訊】WITHIN just half a year, bicycle-sharing has developed from a newfangled idea into a national phenomenon, as the streets of big cities in mainland China are now lined with bicycles that come in a variety of colours parked at random locations. Intense market competition has followed. China's massive upsurge in the internet penetration rate has given rise to new and developing industries that take advantage of online transactions — we are still at the beginning of an era of sharing which has taken millions of households by storm seemingly in the twinkling of an eye. How the Chinese government's management style will keep pace with such a development will be a sign of how far and how fast the country will go amid the global competition in this era of big data.