Why China's ride-hailing market has space for new entrants

investment in mass transit to curb deficit spending. With no end in sight to urbanization, consumers need more mobility options in the absence of improved public transit. Ride hailing is well-suited to help address that demand.

Many Chinese cities are dense and difficult to navigate, which can make private car ownership challenging. In Shanghai, for example, 26 million people live over a 13 square mile radius, making it one of the densest cities in the world. In comparison, New York City isabout 8.6 million people over a 302 square mile radius.

Alibaba and Tencent's new JV can succeed by utilizing its parent companies' troves of consumer data to drill down into the most lucrative portions of the Chinese ride-hailing market. The colossal user bases of Ant Financial's Alipay (

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tencent Music meets profit estimates in first earnings report, shares fallChina-based music streaming company Tencent Music Entertainment Group on Tuesday...
Source: Reuters - 🏆 2. / 97 Read more »

China’s Huge Bond Market Is Coming to an ETF Near You SoonChina is becoming harder for investors to ignore and may soon be home to the world’s second-largest bond market.
Source: WSJ - 🏆 98. / 63 Read more »