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Datum: 17 November, 2018 07:17



BEIJING, Aug. 2 (Xinhua) -- Chinese on-demand mobility (ODM) firm Didi's takeover of the business of Uber China has triggered worries over potential monopoly and price hikes.


Didi announced Monday it was taking over Uber China, in a deal that could value the merged operations in China at 35 billion U.S. dollars.


Uber will take a 5.9 percent stake in Didi, which in turn did not disclose the stake it will take in Uber. Uber China's ODM service will continue to operate independently.


The deal follows China's recent legalization of ODM services.


Yang Jianhua, head of the Public Policy Research Institute of the Zhejiang Academy of Social Sciences, described the merger as "unexpected but reasonable."


"If the two companies continued to wage war against each other via discounts, both would be hurt," Yang said.


The takeover, however, has fueled concerns from experts that a monopoly might hurt the market.


The deal is not subject to anti-monopoly review by the State Council as both have not made profits and Uber China's revenue did not reach the review threshold, Didi said.


However, the takeover would in fact create a monopoly as the two might have more than 90 percent of the market share in China, said Wu Weiqiang, vice president of the Hangzhou Institute for Reform and Development.


Monopoly could reduce competition and result in higher prices for more profits, said Zhou Hanhua, a researcher with the Chinese Academy of Social Sciences.


Passengers and drivers are also worried that they will lose benefits following the deal.


"I am worried about fewer discounts and higher fees," said Wang Rong, a 27-year-old resident of Hangzhou, capital of east China's Zhejiang Province.


"I hope my salary will not decrease in the future," said Shen Yangfei, a Hangzhou driver.


Ye Yun, a public relations representative for Didi, told Xinhua that discounts for passengers and drivers will continue "for a long time."


"On-demand taxi-hailing services have just started in China," said Yang Jianhua. "There is very high potential in many aspects of this business."


The two companies have been locked in a bitter battle for customers in China marked by huge discounts since last year. Didi has strong capital support, while Uber has unique data processing technology and capital operations.


Uber is one of a few foreign tech firms that has been able to compete with domestic rivals head-on in China. While Didi has the majority of China's ODM services, Uber has managed to establish a foothold and made inroads in lower-tier cities this year.


The competition prompted a discount war. In June, Didi announced it had secured 7.3 billion U.S. dollars in equity and debt financing, including 1 billion dollars from Apple, which valued the company at around 28 billion dollars.


Uber secured over 6 billion dollars in its latest funding round. Liu Zhen, Uber's China head of strategy, said in June that most of the money would fund operations in China.


While Uber has generated over 1 billion dollars in profit from its top 30 cities worldwide, the company has not yet made profit in any Chinese city, even though it provides more trips in China than any other country.


LONDON nike odyssey react sale , Nov. 11 (Xinhua) -- The China National Peking Opera Company was given a civic reception in Liverpool Wednesday to mark the company's first ever tour to a provincial British city.


It marks the company's first visit to Britain for 10 years, with performances in Liverpool of two of its masterpieces, Warrior Women of Yang nike epic react flyknit sale , and the full-length European premiere of Farewell My Concubine.


After the performances later this week the company will continue their British tour to London.


Liverpool Lord Mayor Tony Conception hosted a civic reception for the opera company at the city's 18th century town hall.


During the reception two leading members of the company, Zhu Hong and Liu Kui-kui, in full costumes nike air max 93 sale , performed a taster of what the Liverpool audiences will enjoy on Friday and Saturday.


Li Sheng-su, Head of the Number 1 Troupe of the China National Peking Company said in a speech how the visit to Liverpool came just weeks after President Xi Jinping paid his successful state visit to Britain.


"This year is UK-China Year and the President's state visit opened a new pattern in the China-UK partnership, she told guests at the reception nike air max 180 sale , stressing the importance of culture and creativeness in both countries.


Lord Mayor Conception said: "This will be a unique opportunity in Liverpool to see the National Peking Opera Company. We are grateful Liverpool for chosen as the first city outside of London for the performances."


The Lord Mayor reminded the guests that Liverpool's links with China go back to before 1834, with the friendship continuing with the city's close links with its sister city of Shanghai.


Kevin Zhang, director of Sinolink nike air max 90 sale , which has arranged the tour, said: "The opera company is delighted to be performing in Liverpool, a city famed for its culture and history."


The rarely seen spectacular Warrior Women of Yang is a story of grief nike air max 98 sale , courage, patriotism and family loyalty. A cast of over fifty will mesmerize the audience with music, song nike air max tn sale , mime, exquisite costumes and painted faces whilst amazing the audience with stage combat and acrobatics.


Farewell My Concubine is a renowned classical piece, a beautiful and harrowing story of political unrest nike air max plus sale , love, sacrifice and honour. Audiences are entranced by what is an immense love story and the consequences of lost battles and pride.


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