Riders in Kunming, Yunnan province, park shared bikes in April 2017.
Zhang Qiang, a 30-year-old engineer, was stunned when he saw that his bike, parked near a subway station in Beijing, was surrounded by fleets of internet-connected bicycles, which can be borrowed and returned with just a smartphone.
This is the Rainbow War as each bike company paints their products in orange, blue, yellow, green and other colors. Within just a year they have become a common sight in major cities.
But the rapid growth also spawns security concerns and worries that streets may be crowded with bicycles, just as Zhang witnessed. Several cities are rolling out policies to regulate the sector.
Wang Xiaofeng, CEO of Beijing Mobike Technology Co Ltd, and Dai Wei, CEO of ofo Inc, two arch rivals in the bike-sharing industry recently talked with China Daily, sharing their opinions on overseas expansion plans, government regulation and how the sector will reshape itself. Beloware the edited excerpts.