Ride hailing platforms under spotlight as China’s transport watchdog slams ‘one sided’ pursuit of traffic, subsidies to achieve growth

//Ride hailing platforms under spotlight as China’s transport watchdog slams ‘one sided’ pursuit of traffic, subsidies to achieve growth

Ride hailing platforms under spotlight as China’s transport watchdog slams ‘one sided’ pursuit of traffic, subsidies to achieve growth

The one-sided pursuit of higher user traffic and lofty fare subsidies were key factors behind the difficulties experienced by Chinese ride-hailing platforms, according to the country’s transport watchdog.The assessment was made at a briefing by the State Council Information Office (SCIO) on Thursday, as job cuts and financial losses have come under the spotlight in an industry that was once seen as the poster child of a booming sharing economy.“It is true that new types of industry players…

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By | 2019-02-28T22:04:42+00:00 February 28th, 2019|Technology|Comments Off on Ride hailing platforms under spotlight as China’s transport watchdog slams ‘one sided’ pursuit of traffic, subsidies to achieve growth