Beijing to place new cap on the deployment of bike rentals at 1.91 million

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北京共享单车上限定为191万辆 – iResearch

What happened: The Beijing Commission of Transport has announced new plans to keep the number of rental bikes in check. The new limit on rental bike deployments is capped at 1.91 million bikes. Beijing also plans to launch an online monitoring platform for bike-rental services later this year.

Why it’s important: Last September, Beijing ordered a suspension on the deployment of rental bikes, which capped the number of bikes at 2.35 million. There are currently 9 bike rental companies operating in Beijing, down from 15 in 2017. As the overheated market started showing signs of cooling, the government is able to get a better grip on regulating the industry.