Our fast-paced world leaves most of us with little time to sit and read books. But that's where podcasts, and China's explosive paying-for-knowledge economy save the day. Many people now get their enlightenment and entertainment from this billion dollar business. CGTN's Lin Nan shows us why.

33-year-old Guan Jinkun always wants to learn more. He makes the most of his time by listening to podcasts on his cellphone as often as he can.

GUAN JINKUN ENTREPRENEUR "I mainly listen to three types of content: career development, family relationship and self-help. They are very practical at the current stage of my life and work."

Having not gone to college, Guan was eager to broaden his knowledge and skills to compete with peers at work. He came across an app called Spiritual Wealth Club, which broadcasts the abstract of a book in 45 minutes every week.

GUAN JINKUN ENTREPRENEUR "It offers me a method, a tool and an upgrade of thought in 45 minutes. It has brought me a lot. I even got invited to make speeches at some big organizations."

Guan pays 365 Yuan for its annual membership. Together with some 15 million other users, they are creating a big business. According to those behind Spiritual Wealth Club, sales reached more than 200 million Yuan within 3 days of last year's annual 11.11, or November 11th shopping spree.

GUO JUNJIE, CO-FOUNDER & CHAIRMAN SPIRITUAL WEALTH CLUB "For 365 Yuan a year and a book abstract a week, we lower the threshold for reading. For a large group of people, it takes time and effort to read books and apply the knowledge into practice. We aim to help people finish 50 books a year."

The pay-for-knowledge economy has become a multibillion dollar business for some factors: the desire for more information, the need to improve skills constantly in the competitive job market; the ease of paying and reading on the phone, and the fear of missing out.

"I had to go to the bookstore if I wanted to read in the past. With these apps on hand, they can broaden my choices and interests."

"I am very busy at work, and don't have much time to read. The reading apps can help me make the most of my time in-between. It is very convenient, and I won't waste my time."

"I can't help checking my phone whenever news or reading apps deliver notifications. I have to turn on the phone and read them even when I was reading in the library."

However, some experts say the pay-for-knowledge business provides fast-food cultural products, and buying knowledge online helps people alleviate their anxiety of feeling left behind.

DENG JIANGUO, ASSOCIATE PROFESSOR JOURNALISM SCHOOL, FUDAN UNIVERSITY "The advantage of the pay-for-knowledge business outweighs its disadvantages in terms of producing and spreading knowledge, no matter how fast-food style it is and how much people absorb it. It helps people to grow. But learning is a long process that requires time and effort, you can't simply gain it by just listening to a podcast or watching videos online."

As a Chinese saying goes, knowledge is power, whether on paper or on screen, audio or video, in abstract form or full text, as long as it enlightens people in some way. Such is the case for Guan Jinkun. He hopes that with his newfound knowledge, he can go further in life.

Lin Nan, CGTN, Shanghai.