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March 14, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/f5XFZy3uzxM/china-criticizes-subsidized-ride-hailing-apps-as-anti-competitive
China Criticizes Subsidized Ride-Hailing Apps As Anti-Competitive
An anonymous reader writes: China's minister of transport Yang Chuantang has warned that the current round of ferocious price-wars among China's leading ride-sharing app providers, including Didi Dache and Uber, represents an attempt to kill local competition with massively-subsidized price cuts that will not subsequently be sustained. Chuantang, speaking at the annual national assembly in Beijing, said that the subsidies "are aimed at occupying more market share within the short term and is competitively unfair for the taxi industry. It is unhealthy and cannot be sustained in the long term." Uber is currently investing (or, arguably, losing) $1 billion a year in its attempts to consolidate a place in the Chinese ride-sharing market.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/f5XFZy3uzxM/china-criticizes-subsidized-ride-hailing-apps-as-anti-competitive
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