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SSE approves Didi Chuxing’s £¤10 billion shelf offering of supply chain finance ABS

BEIJING – Didi Chuxing’s (DiDi) program for a ¥10 billion shelf offering of a supply chain finance asset-backed security product received a no-objection letter from the Shanghai Stock Exchange (SSE) on March 19, making it the first asset-backed securities supporting the new transportation supply chain finance economy. The scale of

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Geely’s Cao Cao ride-hailing platform raises £¤1 billion in Series A funding, now valued at over £¤10 billion

BEIJING – Cao Cao, a ride-hailing platform invested by Geely Holding Group, announced on January 17 that it has successfully undergone its Series A round of funding raising ¥1 billion, giving the two-year old innovative mobility solutions company an initial valuation of over ¥10 billion. With over 10 million registered

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Automakers risk the fate of Nokia/Motorola if they do’t offer mobility services

BEIJING – Automakers risk the fate of Nokia and Motorola if they don’t participate in the mobility service game, according to Liu Jinliang, vice president of Geely Holding Group and head of its Caocao ride-hailing platform. Liu made the comments on May 5 in Beijing at a panel discussion on

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Car hailing market cools down despite sharing economy boom

The ride-hailing market seems to be cooling down. Starting from March 20, drivers who do not have Beijing’s local car license plates find that they cannot receive ride orders when running in Beijing’s downtown areas from Didi Chuxing, China’s leading ride-hailing platform. Didi suggests those drivers to continue to run

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Didi licensed in Shanghai

SHANGHAI, Oct. 8 (Xinhua) -- Chinese ride-hailing firm Didi has been licensed by the Shanghai Municipal Transport Commission for private-car booking services, in an apparent easing of tension between regulators and ride-on-demand operators. Though increasingly popular with users, online ride-booking services have long been warned by authorities in China that

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