(Yicai Global) Nov. 30 -- China United Network Communications Ltd. [SHA:600050; HK:0762] and bike-sharing firm U-Bicycle Ltd. agreed to build a smart travel system based on Narrow-Band Internet of Things technology, DoNews reported.

Under the agreement, China Unicom will embed the Internet of Things card it developed in U-Bicycle's smart lock to record shared bikes' operational data. This technology will be applied to electronic fences, intelligent travel and other related equipment.

China Unicom and U-Bicycle will share their data as well as app and system background information with each other.

"U-Bicycle has been focusing on smart travel since its birth," U-Bicycle founder and Chief Executive Yu Yi said. "However, the construction of corresponding IOT technological environment needs to be implemented by operators such as China Unicom."

U-Bicycle is an affiliate of Shanghai Lu Yao Information Technology Co. The brand has made its way into 17 Chinese cities.