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Chinese bike-sharing company Ofo Inc announced on Tuesday it finished its series E2-1 round of financing led by e-commerce giant Alibaba Group Holding Ltd, raising a record 6 million, the highest single round of financing in the bike-sharing sector, according to Xinhua.
Chinese customers are enthusiastic about such services as well, as shown by a Roland Berger survey that found that 71 percent of respondents are willing to pay more for better mobility services in China.
Chinese authorities have constantly reiterated that "houses are built for living in, not speculation."
Chinese companies have the advantage of market model innovation, while their European partners lead in industrial manufacturing technologies, according to Liu Chang from the European Union Chamber of Commerce in China. "Those advantages are also the direction for cooperation by the two sides," said Liu.
Chinese companies are racing to secure cobalt supplies as the chemical's price soars, driven by fast-increasing demand from the electric vehicle battery manufacturing industry.