(Yicai Global) May 17 -- Chinese regulators have issued new rules to stop the country's bike-sharers from misappropriating users' deposits paid to use their services.

The new rules mean that such companies along with car-sharers and ride-hailers should not collect deposits from users in principle from June 1, Xinhua News Agency reported.

If the operator need to collect a deposit, it should provide users with two options, either the money be placed in the company's special account or in the user's personal bank settlement account. 

Bike-sharer Ofo has been defaulting on deposit refunds since the end of last year. The Beijing-based firm said it would do its utmost to follow the rule. The company still has over 15 million users waiting for their money back. 

The deposit still belongs to the user, and the firm shouldn't misappropriate it, authorities emphasize.

The rule also stipulates that the deposit amount for shared-bicycles shall not exceed 10 percent of the cost of bicycle placement, and the maximum refund period shall not exceed two working days. The deposit for car-sharing shall not exceed 2 percent of the vehicle's cost, and the refund period shall not exceed 15 working days.