(Yicai Global) July 24 -- China's shared cycling industry is caught in the throes of intense competition, with each contender jockeying within the peloton to seize share in a market with seemingly unlimited prospects for expansion.

The burgeoning fleets of techno-colored shared bicycles in their multifarious hues increasingly clog streets and sidewalks -- whether in motion or stationary -- and an ever-growing public clamor is calling for their more effective regulation.

Shenzhen's legislators said they have flagged shared bikes for inclusion in the city government's legislative work plan for this year and will roll out relevant rules to regulate the velos-for-hire either this year or next.

Municipal legislator Zhang Jiebo outed the above information at a seminar over the weekend, 21st Century Business Herald reported July 24.