The sharing economy does not just involve bicycles, taxi rides and accommodation.
Shared parking space has recently become a huge market in major Chinese cities.
In Qingdao, a coastal city in Shandong, up to 10,000 existing parking slots have been transformed into shared ones with the help of Airparking, an online shared parking platform developed by Guangzhou Yueting Network Technology Co.
Through its app, users can either share or book a parking place.
Owners who have idle parking slots can share detailed information, including parking position, license number and time limit in the platform. With this information, users can easily find the nearest place to park.
The average parking fee for Airparking is four yuan per hour, almost the same as the service fee in traditional parking spaces.
Qingdao is only one of the Chinese cities that encourage shared parking. Major cities, including Beijing, Shanghai and Hefei, have all begun to test the concept. The Shanghai government, for example, upgraded more than 6,500 shared parking slots to encourage the public to use shared parking.