Caixin has published a review of the Chinese bike-sharing industry. It’s not a news story, but a careful look, with numbers and details of business models, at a sector that is growing exponentially. On SupChina we’ve covered bike-sharing in very positive terms, as China is the only country where companies have scaled up a model for renting bikes that really works, largely because customers can use their smartphones to easily unlock bikes that can be picked up and left anywhere. But there are plenty of problems: the possibility of restrictive government regulations, bikes left haphazardly clogging up sidewalks, and over-investment in the sector leading to worries of a bubble. Another aspect of the bike share boom is that it has revitalized China’s bicycle manufacturing industry. However, some commentators warn that bicycle and bike-parts manufacturers who have expanded their plants risk running into trouble when the bike-share investment fever abates.
- Meet the millennials making big money riding China’s bitcoin wave / The Guardian
“Yang claims to make up to 1m yuan (£116,000) a month, under the radar of the taxman, purely from trading the online cryptocurrency.” See also A Bitcoin mine in the mountains of Sichuan, SupChina’s Q&A with Eric Mu, Chinese entrepreneur and miner of digital currency.
- China’s LeEco abandons $2 billion deal to buy U.S. TV maker Vizio / Reuters
“LeEco, one of China’s most ambitious companies that grew from a Netflix-like video website to a business empire spanning consumer electronics to cars within 13 years, is struggling to meet its ambitions.”
- Freight train begins first journey from Britain to China / Reuters
- Xiongan zone to offer launch pad for new 5G network / Caixin
- China is playing a $9 trillion game of chicken with investors / Bloomberg
- Opinion: China finally halts outflows. Now what? / Bloomberg