China’s tech industry giants are sloughing hundreds of millions of dollars into what they’re betting will be the country’s next big internet craze – ‘Uber for bikes’.
A symbol of China’s cities long before a boom in cars, snarling traffic and smog, the humble bicycle is making a comeback. Start-ups equipped with smartphone apps, GPS and scannable codes are selling cheap bike-sharing to city-dwellers as the way to beat jams on China’s most clogged streets.