(Yicai Global) Aug. 1 -- Chinese bicycle-sharing company Ofo, known for its signature yellow bikes, has officially entered the Thai market with 6,000 bikes put into service in the capital Bangkok.

Thailand is the fifth overseas market for the Beijing-based firm after launches in Singapore, US, UK and Kazakhstan.

Ofo had carried out a one-month trial run at the Thailand Institute of Justice in preparation for the launch. 

The company will seek to gain a foothold among university students where demand for bike-sharing is strongest before expanding into cities, a strategy it has also implemented in other countries.

Ofo's biggest competitor, Beijing Mobike Technology Co., is also expanding overseas after the pair, and hordes of similar companies, saturated the Chinese market and hit speed bumps in major cities. Mobike has already moved into Singapore and the English city of Manchester, and is set to hit London next month.