BEIJING, May 20 (Xinhua) -- Chinese regulators have issued a new rule requiring the country's shared bike platforms to stop charging deposits from users, according to an official statement released by Ministry of Transport last Thursday.
The rule comes into effect from June 1st this year. In terms of user deposits collection, according to the statement, in principle, bike-sharing operators should no longer collect user deposits, but if it is necessary for such companies to charge the deposits, the operators are obligated to provide users with option to keep deposits in either operating enterprise's special deposit account or personal bank account.
Besides, in order to reduce personal financial losses in case shared bike operators went bust, a limit is imposed on the user's deposit and prepaid funds.
Chinese regulators are implementing new regulations to keep shared bike platforms in check. The move aims at reducing risk for users' funds and protecting consumer rights. (Edited by Bao Nuomin, baonuomin@xinhua.org)
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