Bike-sharing “withdrawing” from global market for “capital crunch”?

BY SILVI WRITER Mobike, the pioneer in China’s bike-sharing sector will shut down most of its foreign markets, months after rival Ofo began winding down its international division. The move shows China’s bicycle-sharing business, after years of rapid growth and aggressive expansion overseas, are withdrawing from the international market due to capital crunch, observers said. “Mobike’s international business is undergoing rationalization to improve efficiency,” the … Continue reading Bike-sharing “withdrawing” from global market for “capital crunch”?