In 2016, bicycles made a sensational comeback in China as bike-sharing services sprang up all over the country’s big cities. The bikes use GPS technology, communicate wirelessly and accept mobile payment. Pickup and drop-off are flexible. Modern Chinese city dwellers have taken a fancy to these high-tech shared bikes. Handsome profits attract investors and new competitors. However, established companies – primarily Ofo and Mobike – have been fighting over customers as the supply begins to outstrip demand. Hop on a ride with the anonymous author of this article, a doctoral supervisor at Tsinghua University and executive at China Communication and Transportation Association, as he smoothly navigates the bike-sharing industry’s statistics and figures. getAbstract recommends the analysis to cyclists, sharing-economy enthusiasts and interested investors.
In this summary, you will learn
- What China’s bike-sharing market looks like
- Why it is entering a phase of decreasing returns and
- What the future holds for shared bikes in China.
About the Author
The anonymous author of this article is a doctoral supervisor at Tsinghua University and an executive at China Communication and Transportation Association. Founded in 1981 and sponsored by Xinhua News Agency, Economic Information Daily is China’s earliest national economic newspaper reporting on major economic news, policies and trends.