Air service is impacted by high-speed rail, but it does not lead to a significant reduction of passengers; and the new rail industry is seeing its most vibrant growth in China.
Ofo investor Xiaohu Zhu from GSR Ventures is rumored to have sold his shares in bike rental firm ofo to Alibaba for USD 3 billion.
Chinese ride-hailing firm Didi plans to launch a bike-sharing platform within its app that will host partner firms such as Ofo as well as its own bike-sharing brand.
Lyft's value is estimated at $7.5 billion. It plans to expand into the healthcare industry and corporate travel business, and looks for partnerships with hotels.
China’s ride-hailing application Didi Chuxing has agreed to acquire control of Brazil’s 99, the companies said in a statement on Wednesday, potentially creating a formidable rival to Uber.
China set to make a total of 732 billion yuan ($112.55 billion) in fix-assets investment in railway construction in 2018, according to a report by Security Daily, citing China Railway Corporation.
Chinese ride-hailing giant Didi Chuxing has agreed to acquire cash-strapped bike-sharing startup Blugogo to further expand its business footprint, sources close to the matter told Caixin.
By the end of 2017, total mileage of China's railways in operation reached 127,000 km. Among the total, high-speed railways rose to 25,000 km from 22,000 km at the end of 2016.
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