(Yicai Global) Aug. 22 --Shenzhen intends todeploysalvagecrews to reclaim for scrap abandoned shared bikesthat clutter the southern Chinese city's streets.

Around 770,000 active dockless bikesply the roads of Shenzhen next to Hong Kong, with the majority deployed by China's two biggest operators -- Bikelock Technology, which runs Ofo, and Mobike Technology, the firm behind Mobike.Three brands account for mostof the castoffs --Coolqi, XiaomingandBluegogo -- all of whichhave ceased operating and folded, local media Shenzhen Evening News reported yesterday.

After deducting disposalcharges, thesalvageproceedswill gointo the national treasury, city authorities said. Shenzhen is the first Chinese city to adopt this kind of disposal scheme.

Bike-sharinghas undergone explosive growth inChina in the past few years, with more than30 firms in the business as of March, though several have since fallen by the way --Bluegogo,Xiaomingand Coolqi among them -- Sina Finance reported. That's left junked bicycles piling up, quite literally in some cases.

A Shenzhen city official said they hadbeen unable to contact Coolqi Beijing Technology.If the company does not claim or recycleitstwo-wheelers within asetperiod,the cityplans torecycle them, and will enlista company to do the job. Chinese ride-hailing giant Didi ChuxingTechnology, whichagreed to buyBluegogo in January, is also clearing away such bikes.

Yueqi Information Technology, theGuangzhou-based operator of Xiaoming that hasalready declared bankruptcy,issued a statementsaying it planned toretainChina Recycling Developmenttorecover and selldiscardedbikesfor re-usein citieswhere itoperatestohelp discharge itsdebt. Eachone willsell forCNY12(USD1.50).

Editor: Ben Armour