(Yicai Global) June 30 -- Bicycle-sharing schemes have been popping up in many cities around China. Mobike in Shanghai is just such as scheme.
Set up two months ago, Mobike is cooperating with the government of Yangpu District, home to a number of universities and start-up companies, in making bicycles available for use around campuses, industrial parks and residential areas.
A 30-minute rental costs just CNY1 (15 US cents). An app for mobile devices enables users to track down available bikes. Payment can be made through Tencent's WeChat Wallet, one of the country's earliest mobile payment systems.
Bicycle-sharing schemes have also sprung up in Beijing, Nanjing, Guangzhou and other cities with severe traffic problems.