LINE

Text:AAAPrint
ECNS Wire

More than 20 of 77 bike-sharing startups closed in China

1
2018-02-11 16:15Ecns.cn Editor: Mo Hong'e ECNS App Download
Shared bikes of different companies are seen on the street. (File photo/Agencies)

Shared bikes of different companies are seen on the street. (File photo/Agencies)

(ECNS) -- More than 20 of 77 bike-sharing companies have closed down or stopped operations amid a surge in two-wheeler startups, said Liu Xiaoming, vice minister of the Ministry of Transportation, on Saturday.

Liu said the 77 companies deployed 23 million bikes on the streets, which were used a combined 17 billion times, with the highest peak use hitting 70 million rides a day.

It was estimated that shared bikes helped reduce traffic costs totalling 16.1 billion yuan ($2.6 billion) that otherwise would rise from traffic congestion, said Liu, adding the startups as well as related companies in the sector created 200 billion yuan in social values.

Liu also said the ministry received 14 suggestions from deputies to the National People's Congress, the country's top legislature, and members of the Chinese People's Political Consultative Conference, the top advisory body, to regulate the shared bikes.

The suggestions call for better management over parking of shared bikes and strengthened supervision of user deposits with the bike-sharing companies. Some have suggested a zero deposit to use the bikes, according to Liu.

Despite an environmentally friendly way of mobility, the flood of bikes also affected transportation and public space. Beijing and Shanghai are among cities that have now introduced rules to regulate shared bikes.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.