- China's agencies, including the antitrust watchdog, transport ministry, and public security bureau, issued a standard package of rules to protect the rights of the millions of ride-hailing drivers, Bloomberg reports.
- The agencies ordered DiDi Global Inc DIDI and its smaller rivals to strengthen social insurance for drivers while adopting "reasonable" commissions.
- The agencies warned against using data to take advantage of consumers.
- China will establish local-level supervisory offices staffed by personnel from multiple agencies before the year's end.
- Beijing recently ordered DiDi to delist from the U.S., which carried on its June IPO amid regulatory objections.
- Recently Alibaba Group Holding Ltd BABA ramped up ride-hailing investments.
- Price Action: DIDI shares traded lower by 7.04% at $7.26 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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