The Chinese market regulator is investigating the merger of two ride-hailing businesses, Didi and Uber's China branch, in accordance with the anti-monopoly law and regulations, an official said Friday.
Wu Zhenguo, head of the Anti-Monopoly Bureau of the State Administration for Market Regulation, said the administration is working to comprehensively assess the deal's impact on competition and development of the industry. China will crack down hard on monopolistic activity that damages consumer rights, Wu said.
Didi took over its U.S. rival's China business in August 2016, sparking concern over potential monopoly. The Ministry of Commerce said a month later it was investigating the merger. The government pays high attention to competition in the new economy and adopts an inclusive and prudent regulatory principle, Wu said.
Source: Global Times