More Chinese cities saying 'enough is enough' to shared bikes

Updated 2017-11-06 23:02:57 Xinhua

Shanghai transport commission Monday announced that the city had taken 500,000 bikes off the road since Aug. 18 when it banned bike-sharing companies from releasing more bikes.

Officials say bike-sharing companies are only concerned about grabbing market share but pay little attention to bike management, adding that the surge of shared bikes has seriously disturbed traffic order and cast the city in a bad light.

The commission says it has conducted many inspections since August to ensure the ban is enforced, and rules to regulate the market and punishments, which range from fines to losses of corporate credit, will soon be drafted.

In September, a similar ban was issued in Wuhan, capital city of central China's Hubei Province, after the number of shared bikes in the urban area ballooned to 700,000, almost twice the area capacity.

Beijing, whose streets have 2.35 million for-hire bikes from 15 companies, also laid down regulations in September to restrict the growth of shared bikes.

China's bike sharing sector shot up from nowhere to a red-hot frenzy in less than three years. Two market leaders -- ofo and Mobike -- are both worth more than 10 billion yuan (1.5 billion U.S. dollars).

The market is expected to rake in 10.3 billion yuan in revenue this year, a 736 percent increase from 1.2 billion yuan in 2016, according to a report from iMedia Research. It estimated the number of shared-bike users in China will hit 209 million this year, compared with 28 million last year.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 19 2017 05:40:09

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 19 2017 05:40:09

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 19 2017 05:40:09

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords