China's Largest Home Sharing Site Xiaozhu.com to Embrace a "Platform Plus" Model

BOAO,China,April 1,2019 -- Boao Forum for Asia 2019 was held in Hainan,Chinafrom March 26 to 29. Co-founder and CEOof Xiaozhu.com KelvinChenChi was invited to"The Future of the Sharing Economy" session on March 28 and discussed hot topics in the industry together with founders of global sharing economy companies including Booking.com,Grab and VIPKID. During the session,Chen urged home-sharing companies togo beyond the platform model and embrace a "Platform Plus" model.

Xiaozhu.com CEO Chen Chi at Boao Forum for Asia 2019

The sharing economy grew rapidly in 2018. According to the State Information Center,the gross merchandise volume (GMV) of the sharing economy in 2018 reachedRMB 2.942 trillionyuan,up 41.6% year on year.More than 760 million people participated in China's sharing economyin 2018. 2018 was also ayear of compliance for Chinese sharing economy. As a popular topic at Boao Forum for Asia in recent years,the sharing economy session focused on the future of China's sharing economy afterlaws and regulations kick in.

Chen said,the sharing economy nowfacesmultiple challenges including model innovation,technologyintelligentization,and service standardization in China and worldwide,and the pure platform model is no longeradequate for sharing economy companies to create disruptive effects.It is imperative for home-sharing companiessuch asXiaozhu.comto evolve towardsthe "Platform Plus" model and leverage industry collaboration to drive further internetization of China's existing propertieswith new models and new technologies.

"Home-sharing companies should look beyond platform," Chen said. "As capital becomes rational,entrepreneurs shouldalsohave long-term vision,dive into the industryand truly solvetheproblemswithin."

According to the company,Xiaozhu.com now has over 500,000 listings in 650 cities and destinations across the world. Since its initial launch,Xiaozhu.com has built a home-sharing service ecosystem that empowersindividual users and lowersthe threshold of sharing by completing themissing linksin the whole industry chain.

Chen believes in light ofnew technologies like 5G and IoT,supporting service providers,including cleaners,designers,photographers,andproperty managers,will further form an open social collaborative network,unleash space and help more people participate in and benefit fromthesharing economy.

"This is the core value of Xiaozhu,"said Chen.

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