Bike-sharing services have taken off in China, but the initial boom is fading and a number of players are dropping out. Photo: Reuters

China consumer watchdog takes aim at bike-sharing firm Kuqi over failure to refund deposits

Kuqi Bike has ceased trading, potentially tying up millions of yuan in users’ deposits and highlighting a growing problem in the industry as a shakeout threatens to put more out of business

Topic |   Bike-sharing services

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Bike-sharing services have taken off in China, but the initial boom is fading and a number of players are dropping out. Photo: Reuters
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