The BeiDou network will help users park vehicles in an orderly manner as the technology will prioritize the parking order of vehicles on municipal roads, he said.

Hello Global has launched "designated return spot" mode in Shenzhen, requiring all shared bikes to be parked in designated zones for locking the bikes. Currently, the ratio of "designated return" of bikes surpassed 95 percent.

"The mode has effectively improved vehicle parking, and lowered management costs for government and enterprises. By using BeiDou, we are able to manage bike distribution more precisely," Li said. In addition, it also helps the company to gauge bike requirements and relocate its resources accordingly, he said.

Technicians can use the BeiDou system for real-time management of road vehicle information in the background and effectively control traffic tides, ride hotspots and vehicle accumulation, said an official from Qingju Bike.

Wang Peng, assistant professor at the Renmin University of China, who specializes in transportation, said: "The 5G technology-empowered BeiDou system solves the signal problem of shared bikes. Previously, the bikes were equipped with 3G, or even 2G networks, and the signal was poor, making it difficult for users to find a bike or make a payment online. The combination of 5G and BeiDou solves the problem, offering a better user experience."