HONG KONG — Ride-hailing services in China have attracted billions of dollars in investments. They have pulled in money from some of the world’s largest tech companies, like Apple and Alibaba. They have become a crucial road test for one of America’s best-known start-ups, Uber.
In a new law announced by several regulators, China’s government gave the thumbs-up for ride-hailing companies like Uber and its Chinese rival, Didi Chuxing, to operate in the country. The law clears up regulatory uncertainty and lays out a new framework under which ride-hailing companies can operat...
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