Tighter controls on transport deposits

Bicycle and car sharing companies must set up special accounts supervised by banks to hold customers' deposits, under a regulation released by the Transport Ministry on Thursday.

The regulation, issued by the ministry and five other departments, is designed to prevent risk to users' money, strengthen protection of their rights and interests, and promote the healthy and stable development of emerging forms of transportation, the ministry said in a statement.

The rule was rolled out after a number of companies went bankrupt or became cash-strapped in recent years, resulting in customers not getting their deposits back.