Print Edition - 2017-01-18  |  Money Digest

Bikeshare cycles dumped in China

- AFP, BEIJING

Jan 18, 2017-

More than 500 bicycles from China’s flourishing bike-sharing companies have been dumped in huge piles on the streets of the southern city of Shenzhen, reports said. Pictures showed jumbled stacks of vehicles nearly three metres high, with handlebars, baskets and other parts scattered on the ground. City streets around the country have seen an explosion of the colourful bikes that users can rent on demand with a smartphone app and then park wherever they choose. The sharing economy is taking off in China, where ride-sharing and AirBnb are increasingly commonplace. New tech firms such as Ofo and Mobike, with their rival fleets of bumblebee yellow and fluorescent orange bikes, have been locked in a cutthroat battle for users and profit. But problems have arisen when clients have abandoned their cycles.

Published: 18-01-2017 09:34

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