Bike-sharing bicycles are parked on the street in the Futian district of Shenzhen in this photo dated March 19, 2019. Photo:  SCMP / Roy Issa
Bike-sharing bicycles are parked on the street in the Futian district of Shenzhen in this photo dated March 19, 2019. Photo: SCMP / Roy Issa
Ant Group

Can bike-sharing in China turn a profit? Survivors Meituan, Ant-backed Hello try by raising fees

  • Meituan’s bike rental service, formerly known as Mobike, will raise the price for a seven-day membership to 15 yuan from 10 yuan
  • The industry has also been hit by a shortage of raw materials, including steel, plastic and tires, which cost 10 per cent more in the first quarter

Bike-sharing bicycles are parked on the street in the Futian district of Shenzhen in this photo dated March 19, 2019. Photo:  SCMP / Roy Issa
Bike-sharing bicycles are parked on the street in the Futian district of Shenzhen in this photo dated March 19, 2019. Photo: SCMP / Roy Issa
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