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The reasonable rental price is helpful to improve the service level of urban public bicycle system and adjust the number of system users. Firstly, the framework for pricing public bicycle service from perspectives of the users, government and public bicycle company is developed and data collection is discussed. Secondly, three models are established considering benefits of users and public bicycle companies. The objectives of these models are maximizing amount of users, balancing income and expenses of public bicycle system and maximizing the benefit of bicycle companies respectively. Finally, a case study in Guangzhou was analyzed to verify the feasibility and effectiveness of the proposed models.