Summary of Bike-Sharing Market on the Slide

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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.

 

Summary

In the 1980s, bikes were the most popular means of transportation in China. However, in a growing economy, fuel-powered vehicles gradually replaced them. At the end of 2016, the number of cars in China reached 194 million. But the quality of city life is deteriorating due to car-related smog and traffic jams. China needed a green revolution, so bikes made a comeback. City streets around the country saw an explosion of colorful bikes that users could rent with a smartphone app and drop off wherever they chose. In 2017, 25 companies are competing in a bike-sharing market that its pioneers Ofo and Mobike dominate, with 51.2% and 40.1% market share, respectively. At the end of 2016, 18.66 million Chinese actively used shared bikes. Experts predict the number will rise to 50 million in 2017.

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