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China, the technology leader

It's unfair to dismiss the Dragon's giant digital leap

Business Standard Editorial Comment  |  New Delhi 

China's premier cab-hiring service, Didi Chuxing, recently took over Uber China. Uber is the world leader in the ride-hailing market, which it created. But it admitted defeat on the Mainland when it sold its Chinese subsidiary in a stock swap.

Uber accepted 17.7 per cent stake in Didi (with 5.9 per cent voting rights) and gave Didi a seat on Uber's board. Didi, which also owns a stake in India's Ola, is now a Mainland monopoly, controlling over 90 per cent of the Chinese ride-market. This is the umpteenth instance of a global tech giant failing to make inroads in the world's ...

First Published: Wed, August 10 2016. 21:40 IST

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