China's car rental market to top 150b yuan by 2025: report

SHANGHAI -- China's car rental market is about to enter a phase of rapid expansion, with its market scale estimated to top 150 billion yuan ($23.5 billion) by 2025, according to a report released Tuesday.

The car rental market will see expeditious development amid China's regular epidemic prevention and control work, according to the report jointly issued by Boston Consulting Group and the research institute of eHi Car Services.

The car rental industry has achieved a 30-fold growth over the past two decades, stated the report, noting that the market size of China's car rental industry has reached nearly 90 billion yuan by 2020.

It added that the future of car rental industry will be impacted by the evolution of new technologies.