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Chinese car-hailing industry seeks overseas opportunities

(People's Daily Online)    14:49, August 16, 2017

(Photo/Xinhua)

Chinese car-hailing service providers are now seeking opportunities overseas given the increasingly stabilized domestic share and mature home market.

Shouqi Limousine and Chauffeur, one of the largest car-hailing companies in China, has expanded its business to 217 cities in 30 countries. Starting from September, the company will start operations in 1,500 cities in 130 countries.

Shouqi is not the first Chinese car-hailing company to offer services overseas. Two years ago, Chinese car-hailing giant Didi began its international expansion. After teaming up with Uber and complying with new regulations, international expansion has become one of Didi's key strategies.

Didi invested $100 million in the Brazilian taxi on-demand service 99Taxis in January 2016. At the end of last April, Didi completed a new round of financing worth over $5.5 billion.

It is not a coincidence that Chinese companies are joining in the international competition, as new growth points and scenarios are needed for long-term development.

To some extent, it is now impossible to make new profits in the Chinese car-hailing market as huge potentials exist abroad, experts said.

However, Chinese firms still have a long way to go before they can compete overseas in temrs of marketing. This is because capital, operations, local policies, strategies, and restrictions need to be surmounted. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Du Mingming, Bianji)

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