Mobike, one of the world's biggest smart bike-sharing companies, said it would refund all itsChinese users' deposits — Rmb1billion ($150million), according to an industry insider — heighteningcompetition with rival ofo.
据一位业内人士透露，全球最大的智能自行车共享公司之一将退还所有中国用户的 ， 规模约为10亿元人民币（合1.5亿美元），这标志着它与对手Ofo的竞争正在加剧。
The refund was aided by Meituan's acquisition earlier this year of Mobike, a deal valued at $3.7 billion including debt.
Meituan, the food delivery and online services platform, is the world's fourth most valuableprivate technology company.
"The move is designed to establish a no-threshold, zero-burden and zero-condition deposit-freestandard for the entire bike-sharing industry," Mobike said in a statement.
However, such a standard would pile pressure on smaller players who do not have the largebalance sheets to absorb the risks of theft or vandalism to bikes.
"By refunding deposits and going deposit-free we are making it easier to Mobike than everbefore," said Hu Weiwei, company founder.
Mobike has 200 million registered users across the world, although the deposit-free schemewill only apply in China, where users have paid up to Rmb299 for their deposits.