Uber to Accelerate Push Into China
September 08 2015 - 01:20AM
Dow Jones News
BEIJING—Uber Technologies Inc. Chief Executive Travis Kalanick
said the company will enter 100 more Chinese cities in the next
year as it accelerates its push into the country.
Uber is currently in almost 20 cities in China, he said in a
speech in Beijing Tuesday.
Mr. Kalanick also said that China would institute national-level
regulations on the ride-hailing sector in the second half of the
year, and said Uber welcomed the move.
The regulations have to adapt to new technologies, and "the
innovators have to bend to those new rules," he said.
Mr. Kalanick was speaking at Chinese partner Baidu Inc.'s annual
conference Baidu World.
Uber said Monday it had raised $1.2 billion so far in its latest
fundraising round for its China business.
Write to Eva Dou at eva.dou@wsj.com
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(END) Dow Jones Newswires
September 08, 2015 01:05 ET (05:05 GMT)
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