BEIJING, Sept. 28 (Xinhua) -- Beijing authorities have set a limit on the number of shared bikes in the capital city as the industry continues to grow.

In a regulation passed Friday by the Standing Committee of Beijing Municipal People's Congress, authorities decided that 1.91 million would be the limit of the total number of shared bikes.

According to the regulation, transportation authorities could designate off-limit areas for shared bikes. Shared bike operating companies should update information regarding the number of bikes and their location on a government Internet platform. The regulation demands that damaged bikes be recycled, and public deposits returned to users on demand. Online security should be guaranteed.

The regulation added that shared electric bike businesses would not be developed.

The number of shared bikes in the Chinese capital dropped by about 20 percent from a peak period last year, the Beijing Municipal Commission of Transport said in August.

China's bike-sharing market has grown rapidly over the past few years as part of a booming digital economy.