Didi restructures under strict regulations

Didi restructures under strict regulations

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Didi Chuxing, China's dominant online car-hailing service, restructured its business operations and management Thursday in a move to adapt as strict local regulations alter the market environment in China. Four months after authorities tightened rules on car-hailing, Didi's Chief Executive Officer Cheng Wei and President Liu Qing told employees in an internal memo that the company is reorganizing into four business units. They are ride-sharing and taxi services, high-end car-booking and chauffeur services, public transportation services and overseas business operations. The public transportation and overseas business divisions are new. According to the memo, the public transportation unit will work with local governments to build smart transportation systems using big data technologies provided by Didi. The company has set up partnerships with local government-backed bus operators in Tianjin, Shenzhen and other cities, according to Caixin