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China Criticizes Didi, Meituan in Car-Hailing Clampdown

Sep.02 — Chinese regulators summoned executives from 11 car-hailing companies — including services run by Didi Global Inc., Meituan and Alibaba Group Holding Ltd. — and criticized them for disrupting fair competition and hurting the interests of drivers and passengers, according to a statement published Thursday. Enda Curran reports on “Bloomberg Surveillance Early Edition.”

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Sep.02 — Chinese regulators summoned executives from 11 car-hailing companies — including services run by Didi Global Inc., Meituan and Alibaba Group Holding Ltd. — and criticized them for disrupting fair competition and hurting the interests of drivers and passengers, according to a statement published Thursday. Enda Curran reports on “Bloomberg Surveillance Early Edition.”

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2 Comments

2 Comments

  1. Kyodo News Agency

    September 2, 2021 at 11:13 am

    AI expert Lee Kai-fu on China clampdown against big tech — “In the age of artificial intelligence, big data is the new hydrocarbon. China used to have a huge advantage over the US in the realm of big data. But that advantage was eroded by Trojan backdoors like Didi and other Chinese tech companies who had to surrender their China-based big data to the US regulatory bodies in order to get listed in the US bourse. This is a painful and costly lesson for China.”

  2. Sharp Investment Show

    September 2, 2021 at 10:05 pm

    Peak Fintech is my #1 play on the Chinese economy! They are also expanding globally a well.

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Meta gave a disappointing revenue forecast for the current quarter, intensifying investor concerns that the social media giant isn’t swiftly benefiting from its massive outlay on artificial intelligence. Ed Ludlow reports.
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Apple tumbled in late trading after component shortages weighed on the company’s sales forecast. Ed Ludlow breaks down the company’s Q2 earnings.
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Anthropic says its AI models were involved in a hack, days after OpenAI made a similar disclosure. Does AI have a safety problem? Bloomberg’s Jordan Robertson explains.
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