Chinese Bike Rental Firm Ofo Increases Bike Deposits To RMB199 From RMB99

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Beijing-based bike rental company ofo today increased the deposit new users must pay to borrow bikes to RMB199 (US$29) from RMB99 (US$14.5) previously. Despite the increase, ofo’s deposit price remains significantly less than the RMB299 deposits required by rival Mobike.

China Money Network

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