Tag: Uber

Car-hailing market ushers large changes for different companies

Following Didi Chuxing’s announcement on its merger with Uber’s China operations (See Article: Didi Chuxing acquires Uber China in $35 billion deal) and the new nationwide regulations concerning ride-hailing services being released (See Article: China…


FINTS MORNING BRIEF (5 August 2016)

The head of a state-owned commercial bank says that PBoC’s policy to support private investment is hard to implement because a great many small and medium-sized private enterprise are either unqualified to get a loan…


Taxi companies reducing common charges to handle competition from ride hailing apps

On August 1, China’s Ministry of Transport issued a new rule acknowledging the legal status of ride hailing vehicles, as well as requiring carriers to proactively bear the legal and financial burdens should accidents occur…


Didi Chuxing acquires Uber China in $35 billion deal

Ride-hailing app Didi Chuxing said on August 1 to buy Uber’s China operations at a deal valued at $35 billion, putting an end to recent wars between the two. Specifically, the deal will give Uber…


CHINA GIVES NOD TO LEGAL STATUS OF RIDE-HAILING INDUSTRY

China released new nationwide regulations concerning ride-hailing services on Jul 28, permitting private vehicles to pick up passengers as part of services offered by car-hailing platforms. The regulations will officially take effect starting Nov 1,…


UCAR TO BECOME THE FIRST CAR-HAILING APP LISTED ON NEW THIRD BOARD

Ucar Inc, a ride-hailing app launched by Hong Kong-listed China Auto Rental, is ready to become the first of its kind to be listed on China’s NASDAQ-like New Third Board. The New Third Board, formally…


DIDI, UBER QUIETLY CUT RIDE SUBSIDIES

China’s leading taxi-hailing app Didi Chuxing and its U.S. competitor Uber have been reportedly lowering subsidies to drivers in a number of cities since last month, correspondingly raising ride prices for passengers. The two companies…


Uber reportedly gains profit in all developed markets

Travis Kalanick, co-founder and CEO of Uber, recently said that Uber is now profiting in all its developed markets including North America, Australia, Europe and the Middle East, accounting for “all general and administrative costs”…


Didi Chuxing wins $600 million strategic investment from China Life Insurance

Didi Chuxing, China’s leading online car-hailing service provider, announced on Jun 13 that it has received about $600 million investment from China Life Insurance, the nation’s largest state-owned commercial insurer. The latest investment by China’s…