Chongqing—In the heart of southwestern China, Chongqing is leading the country's rental economy. China's rental economy surges, with transaction volumes skyrocketing and young consumers joining the trend. Against this backdrop, Chongqing stands as a compelling case. The city's vibrant consumer culture, combined with its status as a cyberpunk tourism hotspot, makes it fertile ground for the "rental revolution."

Camping is one of the key markets for the rental economy. (Photo: Wulong District)

"China's rental economy has evolved dramatically from its early focus on property and vehicles. We're now seeing category diversification, service digitalization, and increasingly sophisticated quality demands from consumers," explained Xiong Xing, the associate professor of economics at Chongqing Technology and Business University. In 2024, the rental market for 3C digital products has reached a scale of 269.1 billion yuan (nearly 37.84 billion USD), with young demographics emerging as the primary consumer base. Data indicates that among consumers aged 20 to 30, 63.5% prefer renting digital products, while 21.5% have prior experience with product rentals.

In a bustling camping equipment store in central Chongqing, owner Zhou is witnessing the change firsthand. "From April to October, our store becomes a hub for young adventurers," he shares, taking a brief break between attending to customers. "During the peak summer season, we handle over thirty rental orders daily. It is remarkable that more than sixty percent of our customers now prefer renting equipment rather than purchasing it outright." This preference cuts across various demographics, though Zhou notes that young professionals and families with children form the core of his rental clientele.

This behavioral shift reflects a deeper transformation in consumer psychology, particularly among Chongqing's youth. The traditional emphasis on ownership as a status symbol is giving way to what experts call the "experience economy." For people traveling to Chongqing, local entrepreneurs are creating what industry observers term "scenario-based rental packages" - curated combinations of products designed for specific experiences. Popular offerings include "Travel Blogger Kits" containing mirrorless cameras, stabilizers, and lighting equipment, and "Premium Camping Sets" featuring automatic tents, portable stoves, and outdoor furniture.

Renting drones is also a booming business. (Photo: Wang Jiaxi)

Despite its rapid growth, the rental sector faces significant challenges. Industry participants report ongoing issues with equipment damage disputes, concerns about data security (particularly for electronic devices), and the need for clearer standards around wear and tear assessment. Professor Xiong describes these " growing pains " as highlighting the necessity for developing what he terms a "multi-party collaborative governance system" involving regulators, platform operators, and consumers.

Looking ahead, Chongqing's rental market shows no signs of slowing. Industry observers point to emerging trends such as "rental-plus-subscription" models and "rent-to-own" arrangements as potential future growth areas. For now, the success of businesses like Zhou's camping store demonstrates how profoundly the rental economy is transforming consumption patterns in this major Chinese city. As young Chongqing residents increasingly choose access over ownership, they're participating in a fundamental reimagining of what it means to consume in modern urban China.