In a blow to China’s cash-burning bike sharing companies, the city of Beijing has banned commercial advertisement on bicycles deployed in the city, according to regulatory guidance released last week. The move is a setback for China’s numerous bike sharing start-ups, including market leaders Mobike and ofo, as the companies and their investors had looked to commercial advertisement as a source of much-needed revenue. Both Mobike and ofo have said they will comply with the new regulations. To attract customers, …

Chinese Bike Sharing Firms Lose Revenue Stream As Beijing Bans Advertisements appeared first on China Money Network.