Ride-hailing services like Uber will be legal in China as of November, Bloomberg reports, citing a document from the country's transportation ministry. Uber and its Chinese rival, Didi Chuxing, have so far been operating in a legal gray area, as the two companies vie for supremacy in the world's largest ride-hailing market, but the new regulations reviewed by Bloomberg will now allow them to compete freely.
An earlier draft of the regulations called for a ban on the use of private cars for ride-hailing services, and would have limited the number of licenses available for drivers. But the final version is more lenient. According to Bloomberg, the government will encourage growth of the so-called sharing economy, with some restrictions on...
