Beijing takes fresh look at bike regulation

Beijing's top lawmaking body considered new regulations on Thursday that were designed to strengthen the management of shared bicycles.

The booming shared bike industry came with a down side for the city, including improper parking, poor management and other problems. To address the issues, the Standing Committee of the Beijing Municipal People's Congress is looking at a number of new measures.

For example, a fine of up to 50,000 yuan ($8,000) would be applied if a shared bike company fails to exercise reasonable control over the quantity of bikes and refuses to make adjustments, said Chen Yong, chairman of the congress' Commission for Legislative Affairs.