China bike-sharing pioneer Ofo hits the skids

In China the bike-sharing sector has also seen a massive waste of resources, with mountains of bikes discarded rather than repaired.

Bicycle cemeteries, blocked pavements and angry users: the bike-sharing craze is beginning to look like an economic disaster in China, where fierce competition appears set to drive a pioneer of the sector into the ditch.

Bright orange, yellow and blue shared bikes have flooded the sidewalks of major Chinese cities for the past two years as the sector's main rivals Ofo and Mobike deposited millions of the two-wheelers in front of office buildings and subway exits in an attempt to drown their rival.