China green lights ride-hailing services with new regulations

By Jake Spring BEIJING (Reuters) – China has given the green light to online ride-hailing services, issuing guidelines that establish a long-awaited framework for the booming industry and remove uncertainty for firms such as Didi Chuxing and U.S. rival Uber Technologies Inc [UBER.UL]. While globally Uber leads the sector, Didi claims 87 percent of the Chinese market for private ride-hailing.

Original story here.

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