More than 10 million people are waiting for the refund of their deposits from ofo, a Chinese bike-sharing company. Liu Xiaoming, China's vice minister of transportation, said on Thursday that bike sharing has been booming in recent years thanks to mobile Internet and bike rentals. While providing convenience to the general public, it also generates problems such as malicious competition and inadequate protection of users' rights.

In response, the Ministry has been working with relevant departments in the People's Bank of China to thrash out guidelines for managing users' money as a result of the rise of new business patterns in the transport industry.

When it comes to online car-hailing platforms, Liu said over 110 online car-hailing companies have been licensed. Online car hailing platforms should serve the people. Although DiDi has laid off employees, they still need new employees to improve safety and service.

Some companies have encountered financing problems due to blindly pursuing expansion and large amount of subsidies, so the Ministry will closely supervise the development of those companies, according to Liu.