Caixin
Caixin Global – Latest China News & Headlines

Home >

TRENDING
ByteDance Targets July Launch of Upgraded AI Video Model
Embodied AI Startup Kunlunxing Lands Multibillion Yuan Raise
Europe Has a Lot to Learn From China About Electric Trucks, Volvo CTO Says
LATEST
Europe Has a Lot to Learn From China About Electric Trucks, Volvo CTO Says
Embodied AI Startup Kunlunxing Lands Multibillion Yuan Raise
ByteDance Targets July Launch of Upgraded AI Video Model
China’s Starlink Challenger Seeks Up to $2.2 Billion for Satellite Network Push
New Model Propels Zhipu AI’s Market Value to Record HK$1 Trillion
In AI Pitch, Alibaba Chairman Urges Europe to Look Beyond U.S. Tech
Cover Story: China’s AI Boom Is Rewiring Its Power Grid
In Depth: How AI Is Rewiring White-Collar Work in China
Chipmaker YMTC Cedes Control of Foundry Unit Ahead of Mega IPO
Chinese Startup Manifold AI Raises Fresh Funding as Investors Bet on ‘World Models’
Crealights Takes Step Closer to Hong Kong IPO as Data Center Boom Fuels Growth Prospects
Tencent Lets AI Agent Make Purchases Through WeChat Pay
Galaxea AI Chief Says China Could Lead Robotics Models Within Three Years
SiliconFlow Raises $294 Million as China’s AI Inference Demand Surges
Ant Revamps Alipay With AI Assistant in Biggest App Overhaul
New Model Sends Zhipu AI’s Stock Soaring
DJI, Insta360 File Competing U.S. Patent Lawsuits Over Camera Tech
Cover Story: When Employees Leave, Their AI Clones Carry on Working
AI Stocks Zhipu, MiniMax Slide as Lock-Up Expirations Near
Japan’s Chip Exports to China Surge as Bilateral Trade Rebounds

By Teng Jing Xuan / Dec 21, 2018 04:57 PM / Business & Tech

Photo: VCG

Photo: VCG

China’s transport authorities have urged cash-strapped bike-share startup Ofo to hasten deposit refunds for the hordes of users who have put in requests for them, state broadcaster CCTV says.

The authorities are closely following the situation, Transport Ministry spokesperson Wu Chungeng said, according to CCTV.

The government is speaking out after user screenshots revealed that more than 10 million people were still waiting for deposit refunds from Ofo. Hundreds of frustrated Ofo customers also gathered at the company’s headquarters in Beijing to demand that Ofo return deposits — worth around $30.

Once one of the stars of China’s bike-sharing industry, Ofo hasn’t raised money from investors since March. Ofo CEO Dai Wei said Wednesday that the company did not “correctly assess the changing external environment from the end of last year.”

Dai has been blacklisted by a Beijing court and is now barred from buying properties and even taking vacations.

 


Share this article
Open WeChat and scan the QR code