Bike-sharing battle accelerates

The battle for China's cutthroat bike-sharing industry is escalating, with major internet titans becoming strategic investors and investing billions in the emerging sector.

After the recent years of rapid growth, the bike-sharing sector in China is now embracing a new era of stable growth, requiring players to shift their focus from rapid market expansion to refined management and operation, said industry experts.

Zhao Xiang, an analyst at Beijing-based internet consultancy Analysys, said the competition will intensify as the two tech giants behind major bike-rental firms, Alibaba Group Holding Ltd and Tencent Holdings Ltd, seek larger market share in the industry.