Sharing but not necessarily caring

From bikes to cars to power banks to even basketballs, the sharing economy is very much alive in Shanghai.

One of the latest entrants to the scene is an umbrella-sharing business in Pudong New Area. But just like shared bikes, not every umbrella user is an honest person. According to the company, nearly 10 percent of the shared umbrellas were lost during its three-month trial operation.

As a result, the operator is now mulling over whether it is feasible to expand its operations, according to Youth Daily.

Another new sharing business revolves around laundry. While communal laundry rooms are commonplace in other countries, such facilities are rare in China.

"Sharing a washing machine raises hygiene concerns as one cannot tell what was being washed in the device before," explained Qi Xiaozhai, director of the Shanghai Commercial Economic Research Center.

In a bid to enter the untapped market, a company set up a washing machine in a shopping mall in Shanghai's Xuhui district. Users pay 20 yuan ($3) to wash 8 kilograms of clothing, 40 yuan for 18 kg, and 10 yuan for drying. Customers can pay using cash, Wechat or Alipay.

It still remains to be seen if the business idea would eventually pay off, though the initial reception seems lukewarm. Owners of shops near the mall say they have only seen a few people use the machine.

Qi said that those looking to get into the shared economy market need to ensure that their products leverage technology and are innovative.

"The reason the shared economy is attractive and promising is due to the fact that it is linked to innovative technology and the Internet. We would not consider the chopsticks and bowls used at restaurants as part of this shared economy because they are not innovative and do not have added value," said Qi.