Wheels come off bike-sharing firm

CHONGQING - A bike-sharing startup has gone bust after less than five months, despite being named after Wukong, the omnipotent Monkey King, in the Chinese classic Journey to the West.

Last week, Chongqing Zhanguo Technology Ltd, Wukong Bicycle's operator, announced on the company's Sina Weibo account that it had retrieved its bikes from the streets.

It will now refund cash advances to users within the next 30 days.