Next time you hail a ride, consider this: China’s ride-hailing market is already greater than the entire world’s combined, at $30 billion. The United States ride-hailing market is $12 billion. A report by Bain & Company predicts China’s market will soon double. China’s equivalent of Uber and Lyft is Didi Chuxing. In fact, Didi bought out Uber’s China operations in 2016, giving the company instead a 18% stake in Didi. But only 40% of ride requests arrive via the Didi app; equally powerful are Tencent’s WeChat and Alibaba’s Allpay. Order movie tickets and dinner along with your ride? Do it in one click with Meituan Dianping, with 320 million users. Bain’s Raymond Tsang estimates China’s ride-hailing market will reach $72 billion by 2020. The advent of self-driving vehicles may be part of the strategy: Didi is an AI and autonomous conglomerate. When the United States Transcontinental Railroad was built, telegraph communications infrastructure was laid under the tracks. Will ride-hailing vehicle and communications infrastructure be planned as part of the Belt and Road Initiative, bringing the New Silk Road into the future?
Pham, Sherisse. “China’s $30 billion ride-hailing market could double by 2020.” 15 May 2018. CNN. http://money.cnn.com/2018/05/15/technology/china-ride-hailing-market/index.html. Includes link to a video on Didi’s expansion into Brazil.
Alibaba Holding Group: stock symbol: BABA
Didi Chuxing: http://ww.didichuxing.com
Tencent: stock symbol: TCEHY
For telegraph infrastructure combined with transport building, see sections 18 and 19 of “An Act to aid in the Construction of a Railroad and Telegraph Line,” 1 July, 1862. Building the World, pages 237-238.
Building the World Blog by Kathleen Lusk Brooke and Zoe G Quinn is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License