China’s rental economy surpassed CNY4.2 trillion in transaction value in 2024, up 32% from a year earlier, according to a white paper jointly released by the State Administration for Market Regulation (SAMR) and Ant Group. More than 750 million user transactions were recorded during the year, with digital platforms accounting for about 65% of total market activity. The trend is being driven largely by younger consumers. People under the age of 30 now account for more than 60% of users in the rental market, according a rental platform. Li Lu, Director of Social Governance Research at the National Development and Reform Commission’s Institute of Social Development, said: “Rental services increasingly represent a rational economic choice for consumers seeking better value and lower waste.” Li said that the range of products available for rent has expanded rapidly beyond traditional categories such as housing and automobiles. Today, consumers can rent cameras, luxury handbags, toys, drones, camping equipment, gaming consoles and even humanoid robots, she added.
Notably, as artificial intelligence (AI) applications spread across industries, demand for rented graphics processing units (GPUs) and computing power from individual users and small businesses has steadily increased. Robot rental platform Botshare said it received more than 1,000 orders during the Spring Festival holiday period of this year. Chief Executive Li Yiyan said orders during the holiday period increased nearly 70% year-on-year. There is strong demand for portable digital cameras among Generation Z travelers. In many cases, users initially rent equipment before eventually purchasing it, creating what industry participants describe as “rent before you buy” consumption. As the market expands, businesses providing logistics, maintenance, refurbishment, valuation and resale services are benefiting from growing demand.
“Rental platforms are helping create integrated ecosystems that combine products, services and data, while enabling more businesses to lease not only physical equipment but also digital tools, software platforms and computing resources,” Li said, as reported by the China Daily.
