(Yicai Global) Nov. 28 -- Leading Chinese bike-sharing company Beijing Mobike Technology Co. will partner with the China Academy of Information and Communications Technology (CAICT) to develop Internet of Things (IoT), big data and artificial intelligence (AI) technologies, and they will also introduce a set of industry standards for bicycle-sharing services to foster healthy market growth, Cnr reported.

The pair penned a strategic partnership agreement yesterday, pledging to collaboratively work on industry planning, policies, standards, certification and testing and to establish a series of service standards. Mobike and CAICT began working together before the execution of the agreement. The pair drafted China's first technical standards for the bike-sharing sector earlier this month.

Under their pact, they will cooperate on fifth-generation mobile network, IoT, mobile internet, big data, network and data security, and AI schemes, and promote applications of these technologies in bike-sharing products and services.