Meituan pares back bike sharing and ride-hailing services

The company is downsizing its bike fleets to “avoid an oversupply” while it also said that it has no plans to expand its ride-hailing service, which is currently pilots in two cities in China. Meituan owns bike sharing service Mobike, which has seen its rival Ofo backpedal in international markets this year. Meanwhile in ride-hailing, Chinese leader Didi has struggled with a number of challenges this year, including the murders of two passengers this year.


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