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Didi, China’s Uber, Navigates Rough Regulatory Road – WSJ

China’s national regulators this summer officially legalized the sector, which had operated in a gray area. Didi’s main rival, Uber, ceded the market after a costly competition in which the companies subsidized rides. Didi added Apple Inc., Foxconn Technology Group and Baidu Inc. this year to its investor list, which already includes Chinese internet majors […]

China’s national regulators this summer officially legalized the sector, which had operated in a gray area. Didi’s main rival, Uber, ceded the market after a costly competition in which the companies subsidized rides. Didi added Apple Inc., Foxconn Technology Group and Baidu Inc. this year to its investor list, which already includes Chinese internet majors Tencent Holdings Ltd. and Alibaba Group Holding Ltd. In recent months, Didi began reducing subsidies and raising fares.

Source: Didi, China’s Uber, Navigates Rough Regulatory Road – WSJ

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