China's Mobike in rapid overseas expansion

Speakers: Li Ningjing, Sam Duckett, and Lu Sirui

Mobike is one of the major bike-sharing companies in China.[Photo: Baidu.com]

China's bike-sharing wave continues to sweep across the globe with Mobike set to soon launch its iconic orange bicycles in London.

In September, 750 bicycles will be introduced by Mobike in the west London borough of Ealing. After downloading the app and paying an initial deposit of £29, users will be free to ride the bikes for a mere 50p per half hour.

Mobike has already launched in more than 150 cities around the globe, including most recently Florence and Milan, as the company continues to try to stay ahead of its chief competitor, Ofo with both startups receiving hundreds of millions of dollars in funding.

The audio clip is from Studio+, produced by CRI.