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Chinese bike-sharing giant Mobike Technology Co Ltd announced on Monday it would roll out its services in Australia as part of a bid to expand its overseas presence, faced with mounting competition from its rival Ofo Inc outside China.

Chinese online group discounter Pinduoduo nailed down its offering price at the highest end of the indicative price spectrum of per share, with a value of billion, as the company will debut on the Nasdaq on Thursday, local time, according to a report by tech news portal All Weather TMT.

Chinese bike-sharing giant Ofo Inc announced on Monday that it will officially launch its bicycle-sharing services in Thailand from Aug 1, marking the latest step toward its ambitious goal to cover 200 cities in 20 countries by the end of this year.

Chinese firms spent about billion in outbound M&A deals in the first six months of the year, down by about 60 percent from the same period in 2017, according to a report by global management consultancy Bain & Company.

Chinese players in the industry outperform their rivals for high cost-efficiency and technological expertise, so they are playing an active role in improving the energy infrastructure in those countries and regions, he noted.