China Daily Global Edition (USA)
Mobike to pedal into 200 global cities
Chinese bike-sharing behemoth Mobike Technology Co Ltd is gearing up its overseas expansion, as the company aims to meet its ambitious goal of operating in 200 cities globally by the end of this year.
Beijing-based Mobike announced on Tuesday the launch of bike-rental services in London, with a plan to operate 750 bikes in September.
“Considering our current operation status, we are able to complete and may even exceed our global expansion goal of 200 cities,” said Chris Martin, Mobike vice-president and head of its overseas expansion business. Much of that expansion will be domestic, but he said Mobike will cover more countries in the second half of the year.
Mobike’s orange dockless bikes are now crowding sidewalks in more than 150 cities in countries including Singapore, the United Kingdom, Japan and Italy.
February 10:
March: April: June 9: July 31: Overseas expansion timeline of Mobike March 21: June 13: June 22: June 23: July 25: August 1:
Users in overseas markets will be able to ride shared bikes by simply scanning a QR code on the downloaded app and pay online on their smartphones via their debit or credit cards. Martin said as Mobike is set to cover more countries, the company will explore more payment methods.
According to the company, the shared bikes are produced in China and then exported to overseas markets, and it will also seek more global partners in the supply chain business.
The bike-sharing craze sweeping China is now going global. Mobike’s arch rival Ofo Inc previously announced it plan to enter 200 cities in 20 countries glo- bally by the end of this year.
On Tuesday, Ofo said it plans to operate a total of 6,000 shared bikes in Bangkok by the end of September.
Now Mobike has rolled out more than 6 million bikes in over 150 cities globally.
Its top rival Ofo said it has over 100 million users and has recorded more than 2 billion rides since its debut in 2015.
Zhang Xu, an analyst at Beijing-based internet consultancy Analysys, said bikesharing firms’ overseas expansion will help companies to expand their influence in the overseas market, but it will also bring about challenges and uncertainties.
“As the overseas market is quite different from that in China, there will be problems concerning local residents’ habits in terms of using bikes, the way of operating bikes, and local policies when Mobike operates its service overseas.”
bikes Singapore San Francisco and Boston, United States Cambridge, United Kingdom Astana, Kazakhstan, 1,000 bikes Bangkok, Thailand, 6,000 bikes by the end of September Singapore Manchester and Salford, United Kingdom, 1,000 Fukuoka, Japan Sapporo, Japan Florence and Milan, Italy, 4,000 bikes will be launched in August London, United Kingdom, 750 bikes
The nominations will go through the approval process at the boards of directors of the two banks, both of which are listed in Shanghai and Hong Kong.
Tian has extensive experience in the Chinese financial sector. He started working at a local branch of CCB in 1983 straight out of college. He was promoted as the assistant president of the bank in 1997 at the age of 37.
In 1999, Tian began to work for China Cinda Asset Management Co, one of the country’s Big Four bad debt managers and became head of the company in 2004. Between 2010 and 2013, Tian served as the president of State-owned conglomerate CITIC Group Corp before moving to BOC as the chairman of the lender.
Tian said at the meeting of his appointment that he had an “attachment” with the bank and was happy to return and work for it, according to a report by business magazine Caixin, quoting sources from the bank.
Chen, the likely successor of Tian, has worked at BOC for 27 years and was regarded as an energetic and capable banker with extensive knowledge of risk management and corporate business.
BOC had total assets of 18.9 trillion yuan ($2.81 trillion) by the end of March, up 4.24 percent year-on-year. CCB’s total assets rose to 21.7 trillion yuan in the first quarter of the year, up 3.5 percent year-onyear, according to the financial reports of the two lenders. Jiang Xueqing contributed to this story.