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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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Bloomberg’s Ed Ludlow breaks down full coverage of the first presidential debate and discusses the state of crypto with former Republican presidential hopeful Vivek Ramaswamy. Plus, Apple’s iPhone shipments in China jump 40% following discounts, and a new survey shows Tesla’s design changes are confusing customers and undercutting its quality.
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Tesla no longer stands above other electric vehicles in quality because head-scratching design changes on its cars, such as removing turn-signal stalks, have frustrated its owners and lowered its score in a bellwether quality survey. Bloomberg’s Keith Naughton joins Ed Ludlow on “Bloomberg Technology.”
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Energize Capital Partner Juan Muldoon joins Ed Ludlow to discuss software’s critical role in climate tech and AI, and the challenges facing climate tech’s deployment of AI. He speaks on “Bloomberg Technology.”
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