Bike-sharing Service Listed as China's "New Four Inventions"

China1583Jun 16, 2017

Since the summer in 2016, bike-sharing service greatly receives a warm welcome among society thanks to its efficient and environmentally friendly quality. Piles of bikes with various colors hit the streets, bus stops, subway entrances and residential areas.

China's bike-sharing service has exploded as the fierce competitions among entrepreneurs have flocked to the sharing market for the piece of the action.

Since the summer in 2016, bike-sharing service greatly receives a warm welcome among society thanks to its efficient and environmentally friendly quality. Piles of bikes with various colors hit the streets, bus stops, subway entrances and residential areas. It is possible for you to find the nearest available bike, scan its QR code via your smartphones, then enjoy your bike ride at a 1/2-yuan-per-hour cost. What makes users most satisfied is its convenience. You can park the bike wherever and whenever you like, which greatly eases their concerns about the certain locations and popularizes the bike-rental service. Capture the unique scene of the locals when you visit cities in China and you are more than welcome to be one of them to delve into the Chinese lifestyle.

Two leading startups–Mobike and its rival OFO have competed with around 25 newcomers angling for the large customer groups. The two initially seized the opportunity to dominate the short-distance commutes and deposited around 100,000 bikes into some capital cities to test the waters in 2016. After the strong echo, they place emphasis on second or third-tier cities as their developing market. It is reported that the number of bike-shared users are estimated to jump to around 50 million in 2018. So how to survive and distinguishes themselves in the competitive markets is what startups should focus on in the following challenges.