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China’s Latest Ride-Hailing Regulations Likely To Spell Trouble For DiDi, Alibaba

China’s agencies, including the antitrust watchdog, transport ministry, and public security bureau, issued a standard package of rules…
byAnusuya Lahiri
November 30, 2021
1 minute read
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  • China’s agencies, including the antitrust watchdog, transport ministry, and public security bureau, issued a standard package of rules to protect the rights of the millions of ride-hailing drivers, Bloomberg reports.
  • The agencies ordered DiDi Global Inc (NYSE:DIDI) and its smaller rivals to strengthen social insurance for drivers while adopting “reasonable” commissions. 
  • The agencies warned against using data to take advantage of consumers. 
  • China will establish local-level supervisory offices staffed by personnel from multiple agencies before the year’s end.
  • Beijing recently ordered DiDi to delist from the U.S., which carried on its June IPO amid regulatory objections.
  • Recently Alibaba Group Holding Ltd (NYSE:BABA) ramped up ride-hailing investments. 
  • Price Action: DIDI shares traded lower by 7.04% at $7.26 on the last check Tuesday.
 
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