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Investors, Passengers Flock to Chinese Ride-hailing Apps

Powerful foreign and domestic companies are making massive investments into ride hailing apps in China, even though the legality of such services is still a topic of heated debate. Didi Chuxing, China’s top ride-hailing phone application, has a new investor – China Life Insurance, which is giving the company $600 million. Last year China Life gave money to Didi’s rival, Uber Global. James Roy, Associate Principal at China Market Research Group, said, “They've become an...

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