Report focuses on internet celebrity, sharing economy

The internet celebrity industry and the growth of the sharing economy are highlights of China's internet development last year, according to the latest report on new media.

A well-rounded business operation mode has been developed in the internet celebrity economy and the industry enjoys a promising future, said the Annual Report on Development of New Media in China, released by the Chinese Academy of Social Sciences today.

Internet celebrities, or Wang Hong in Chinese, are usually ordinary people who talk, write or perform on internet platforms to attract an audience, usually by creating original content.

The report cited data from Analysys Co, saying it is predicted that the scale of internet celebrity economy in China is likely to reach 100 billion yuan ($15 billion). The compound annual growth rate from 2015 to 2018 is estimated to be nearly 60 percent.

The sharing economy supported by mobile phone apps is another area that entered the fast track last year, the report said.

The sharing economy is commonly regarded as a novel market model, in which individuals share access to goods and services.

Wang Zihao, deputy head of the scientific research department of the Chinese Academy of Social Sciences, said the sharing economy developed rapidly last year since it was written into the government work report, and enjoys favorable government policies.

He said the industry helps best utilize and allocate resources and the benefit for people is immediate.

According to figures from the China Electronic Commerce Center, investment in sharing businesses accumulated to 36 billion yuan by the end of last year.

The report is the eighth book on new media released by the academy. It also discusses research on the integration of China's media, online live broadcasts and internet security.