Why China’s cities want stricter rules for Its $73B ride-hailing market

Publication: Taxi Times,

Forbes business magazine reports that China might have officially legalized online ride-hailing services just a few months ago, but now it’s making a U-turn. Its biggest cities are proposing new regulations that might curb the growth of an online ride-hailing market that consultancy Roland Berger predicts will reach 500 billion yuan ($73 billion) in 2020.

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