It has identified 100 potential places with room for 1,000 cycles. Eight will go ahead immediately while feasibility studies are undertaken for the rest.
Barbara Newman, chairwoman of the Corporation's planning and transport committee, said: 'We want more city commuters to use bikes and we want them to have proper stands to cut the number of bikes attached to railings and posts.
The initial sites were identified after consultation with the London Cycle Campaign and the City of London Environment and Amenity Trust. They include London Wall, Holborn Circus, Moorgate station, the Minories and Aldgate High Street. The parks will use Sheffield racks, which look like a mini goal post and are considered the safest.
The move comes after a London-wide initiative to encourage more people to cycle. In all, 33 London authorities have called on the Government to fund a 1,200-mile cycle network to improve the environment and save lives.
The councils want pounds 36.5m from the Department of Transport over the next five years to provide cycle lanes and paths and build more than 700 special cycle crossings at junctions with main roads.